The Metro Vancouver Retail Thread

[SpongeG]

Originally Posted by LeftCoaster

Vancouver was never the issue, it was always their top store in the entire company and only the in the last year or so was that title challenged by the new Manhattan store (not sure if it ended up overtaking or not). The problem was with the rest of the Canadian ops.

I remember reading that they pulled a lot of the higher-end brands out of the Calgary store and just carried brands like Kate Spade and Michael Kors etc. I also think the Nordstrom Brand isn't as loved out east in the USA as well, it's much more a west coast brand. Less brand loyalty or awareness in the rest of Canada doesn't help.

[dreambrother808]

Originally Posted by SpongeG

I used to shop online with Nordstrom when I lived in the middle of nowhere Alberta. Their online offerings were far more reasonable. The Vancouver store was just way too expensive, $800 T-shirts, $2000 shoes etc. I would buy things like candles or skin care stuff at the Vancouver store, but most of that stuff is sold at Holt Renfrew as well, Diptyque, Jo Malone, Aesop, Kiehls etc.

I know in the states most of the stores had a more reasonable selection, like Dockers, Levis, Guess etc, not Dior, Moncler, Balenciaga etc.

They seemed to move more upscale after their initial launch here. But as Leftcoaster has said, the Vancouver price point was not the problem. I wish they could have kept the store here at least.

[SpongeG]

me too, I loved browsing the store. Will miss that.

I didn't like their rewards program cause my points always expired so fast. I didn't really buy much at the Rack store but it was a regular stop when at Willowbrook. they once had some Balenciaga pants there for $800.

[jollyburger]

I think everyone is just going to miss their washrooms.

[theKB]

Originally Posted by whatnext

With Canada's ridiculous home prices is it any wonder Canadians have less disposable income?

Lets not forget high cost of living, high taxes (whether through income or sales taxes and other hidden taxes - aka duties) among other things - oh and the weak canadian dollar.

[officedweller]

I remember going in there when they opened up looking a for a sportcoat during the annual sale and the salesclerk was pushing the unlined jackets (I guess it was summer). His pitch was that you could see the quality of the stitching (with no mention that the absence of a lining would subject it to more wear and tear).
So it was basically half the jacket for twice the price.

[Vin]

Originally Posted by LeftCoaster

A flawless business strategy...

Tell me again that we need more malls but we should be lowering lease rates?

Yes we need more malls with better retailers or good F&B operators. Stop being so sore about the success of city centre malls all over the country. The lowered lease rates will help fill up empty spaces vacated by Nordstrom faster, and that's a very pragmatic business strategy.

[s211]

Originally Posted by officedweller

I remember going in there when they opened up looking a for a sportcoat during the annual sale and the salesclerk was pushing the unlined jackets (I guess it was summer). His pitch was that you could see the quality of the stitching (with no mention that the absence of a lining would subject it to more wear and tear).
So it was basically half the jacket for twice the price.

Try finding a fully lined and tailored sport coat these days.

It can be done, but wow has the slacker mentality gutted the sartorial business.

[osirisboy]

Sartorial ������♂️

[NewfBC]

Originally Posted by LeftCoaster

Vancouver was never the issue, it was always their top store in the entire company and only the in the last year or so was that title challenged by the new Manhattan store (not sure if it ended up overtaking or not). The problem was with the rest of the Canadian ops.

This. Another thing I found interesting.. 2500 people work at Nordstrom in Canada - across 13 stores - 6 main, 7 Rack. 600 of those 2500 work at the Downtown Vancouver store.

Ron.

[Migrant_Coconut]

I assume it's not as simple as keeping the Pacific Centre location and shutting down everything else?

[urbanight93]

Though I have heard the company struggling out east, the Vancouver store has been the Canadian gem for a while so it really has little to do with Vancouverites’ disposable income or spending habits. Nordstrom did fumble its strategy by not understanding that the Canadian market is not homogeneous across the country however. They expanded way too fast without tailoring their product offerings to distinct shopping needs and price points that vary between cities. Hell, they opened a Nordstrom at Easton’s Centre but a Rack in Yorkville which is a small indicator of their lack of knowledge regarding the Toronto shoppers and demographics.

In terms of the total Canadian exit, this reeks of American corporate trying to assuage investors by sacrificing the disposable company division (the Canadian arm) so they can focus on their domestic issues. This is not the last we will hear of closures I presume. The department store format is slowly becoming obsolete if not all stars align (location, city, retail environment…)

[officedweller]

Originally Posted by s211

Try finding a fully lined and tailored sport coat these days.

It can be done, but wow has the slacker mentality gutted the sartorial business.

I got a nice blue plaid one maybe 2 years ago at the Brooks Bros Outlet Tsawwassen Mills - fully lined on sale. I almost bought 2 of them.

I remember when Holt Renfrew actually had large tables of ties, sorted by colour (back when their price points weren't too bad on sale (Now or Never sale?)). Not that I or anyone else at the office wear ties anymore.

[FarmerHaight]

Originally Posted by s211

the slacker mentality

I don't know that casual dress is a product of slacking. There are just fewer situations where dressing formal is actually important. It's silly, IMO, that everyone used to wear a suit and tie to work regardless of their function.

People still dress formally when it is appropriate like when a lawyer goes to court or a banker meets with a client, but why should I dress up when I sit in an office all day and have zero interactions with clients? Having to occasionally throw on a jacket and tie means I can save thousands of dollars on formal wear that used to be the price of admission into any professional workplace.

[WarrenC12]

The west coast has always been more lax than the east with respect to all kinds of things including work/life balance, and work dress codes.

[LeftCoaster]

Originally Posted by Vin

Yes we need more malls with better retailers or good F&B operators. Stop being so sore about the success of city centre malls all over the country. The lowered lease rates will help fill up empty spaces vacated by Nordstrom faster, and that's a very pragmatic business strategy.

Sore at the success of other city centre malls in Canada?

I don't know why I bother asking, but which city centre malls would you take over the #1 city centre mall in North America?

Just as a little hint since you seem to struggle with basic logic; the best malls don't offer space for a discount fire sale to fill up spaces fast, the valuation losses would be catastrophic. You wouldn't know a pragmatic business strategy if it slapped you in the face.

I think you've truly lost the plot this time.

[officedweller]

Originally Posted by FarmerHaight

People still dress formally when it is appropriate like when a lawyer goes to court or a banker meets with a client, but why should I dress up when I sit in an office all day and have zero interactions with clients? Having to occasionally throw on a jacket and tie means I can save thousands of dollars on formal wear that used to be the price of admission into any professional workplace.

The reduction in face to face contact with clients or other lawyers/professionals has definitely been a factor.
Not only savings on the cost of clothes, but also (toxic) drycleaning!

[officedweller]

So apparently Nordstrom did file under the Company Creditors’ Arrangement Act (akin to bankruptcy) and Nordstrom may have the ability to assign their leases, rather than the space going back to Cadillac Fairview.

When STOREYS reached out to commercial real estate giant CF Fairview to inquire about the fate of the massive anchor retail spaces — like the one in the CF Eaton Centre — reps referred us directly to Nordstrom for comment.

When we asked Nordstrom reps about breaking a lease of this scale, they said that, as part of the Initial Order from the Court, Nordstrom has received “the authorization for the Nordstrom Canada Entities, in consultation with the Monitor and with the assistance of any real estate advisor or other assistants as may be desirable, to pursue all avenues and offers for the sale, transfer or assignment of the Leases to third parties, in whole or in part, subject to Court approval of any such sale, transfer or assignment.”

https://storeys.com/nordstrom-retail-space-whats-next/

[jollyburger]

Originally Posted by officedweller

So apparently Nordstrom did file under the Company Creditors’ Arrangement Act (akin to bankruptcy) and Nordstrom may have the ability to assign their leases, rather than the space going back to Cadillac Fairview.


https://storeys.com/nordstrom-retail-space-whats-next/

The link to their filing:

https://www.alvarezandmarsal.com/sites/d...al%20Canada%20Inc.%20-%2001-MAR-2023.pdf

They say Nordstroms US has invested $775 million USD to launch in Canada.

Ontario 1334 Employees
All the full line stores 236-348 employees
Alberta 356
BC 643
Pacific Centre 498/98 (full time/permanent)

[svlt]

Originally Posted by officedweller

The reduction in face to face contact with clients or other lawyers/professionals has definitely been a factor.
Not only savings on the cost of clothes, but also (toxic) drycleaning!

It's not as if interest in decent clothing/footwear has totally dried up, loads of friends, colleagues and associates still wear presentable and even expensive clothing (especially outerwear) when going out, but formalwear and especially for men has nosedived in popularity. Was already a fast losing battle but the pandemic cemented it.

Nordstrom barely paid much attention to formalwear, at least in the Vancouver store. It does well and should have found a way to continue while the money losing operations shuttered, I'll be sad to lose my last minute gift shop.