Canadian Retail Thread

[SignalHillHiker]

Isn't it? I thought they had good food?

Either way, it's a good fit for George Street. I think it'll be very busy, certainly busier than Club One. So I think it'll be great.

[Trevor3]

Hooters will survive simpy because of novelty. Everybody I know that travels to the US goes to Hooters just so they can have a picture with the Hooter girls, it'll go over well.

I'd also like to say I hate Dusk. A friend of mine was a bouncer there so I would always get in free, but then I always get sniped from across the room for dress code violations. They seriously have people in there perched in high locations around the bar looking for these things... To be fair, I should have just dressed appropriately, but then I feel out of place if I want to go somewhere else.

[SignalHillHiker]

Yeah. Dusk won't last here. It's already the type of place most locals only go once - and it's really only popular with the stupidest of the pretty, young girls. Could be wishful thinking on my part... but I have yet to meet anyone here who likes it. People just don't have the patience for that type of shit.

[LeftCoaster]

Originally Posted by LeftCoaster

Anyway we'll wait to see if that Bay becomes a Saks.

This has been released today. One of the better kept secrets in the real estate world. Will have big implications for Saks roll out around The GTA.

TORONTO -- Hudson's Bay Co. (TSX:HBC) is selling two properties that house its Toronto flagship store and executive offices to Cadillac Fairview -- the company that operates the neighbouring Toronto Eaton Centre.

HBC says it will receive $650 million for the retail complex and the adjoining Simpson's Tower, which is at the corner of Bay and Queen Streets.
Hudson's Bay will then lease back the properties for 25 years with options to extend nearly 50 additional years.

HBC also says its recently acquired Saks Fifth Avenue subsidiary will open a full-service store at the Yonge and Queen location, across the street from the Eaton Centre, and share space with the Bay store.

Saks Fifth Avenue will also open a full-service department store in the southwestern end of Toronto -- at Sherway Gardens mall, which is also owned by Cadillac Fairview.

Cadillac Fairview is the property management arm of the Ontario Teachers Pension Plan, with real estate holdings in several major cities.

Read more: http://toronto.ctvnews.ca/hbc-announ...#ixzz2rboXGrXD

[caltrane74]

I wonder if they need that 650 mil, for improvements at the Yonge and Bloor, and Yonge and Queen Stores.

The Yonge and Bloor store looks like it may be the target of a 200 million dollar renovation when they rebrand the store as a Saks. If they plan on doing the same thing down at Yonge and Queen that will also be a drain on cash.

[LeftCoaster]

Originally Posted by caltrane74

I wonder if they need that 650 mil, for improvements at the Yonge and Bloor, and Yonge and Queen Stores.

The Yonge and Bloor store looks like it may be the target of a 200 million dollar renovation when they rebrand the store as a Saks. If they plan on doing the same thing down at Yonge and Queen that will also be a drain on cash.

I think you missed the point of the buyout...

[Ramako]

The Yonge & Bloor HBC will remain a blight on the urban landscape, and HBC will become a bit player in its own flagship location. So pretty shitty all around.

I wouldn't be surprised if most of the prime HBC locations in Canada are eventually wholly replaced by Saks.

[OTSkyline]

Imagine all Sears locations closing and HBC's closing or switching to Saks? We will be drowning in American Retailers... might as well join the states...

#unitedstatesofcanada

[flipv]

Originally Posted by LeftCoaster

This has been released today. One of the better kept secrets in the real estate world. Will have big implications for Saks roll out around The GTA.




Read more: http://toronto.ctvnews.ca/hbc-announ...#ixzz2rboXGrXD

Worst piece of news in a long time.

1) Hudson's Bay is now 'sharing' its flagship with another retailer - ie: no longer a flagship IMO. Also can't wait to see how CF bastardizes that iconic piece of architecture a la Eaton Centre.

2) We're left with that wonderful piece of architecture at Yonge and Bloor with the interior to match your wildest mid-80s retailing dreams.

[SignalHillHiker]

It's officially official now:

A popular franchise known more for its servers than its food is making its way to the capital city.

Hooters, a restaurant and bar noted for servers wearing tight tank tops and daisy duke-style shorts, will open a franchise in place of Club One this spring.

Few details have been released, as no formal application has been made. However, Seamus O'Keefe, president of the George Street Association, says Hooters will add something new to the downtown scene.

O'Keefe admits the brand may not be for everyone, and says it's disappointing to see the closure of Club One - a popular concert venue in the city.

Meanwhile, aside from issuing a building permit, the city of St. John's has no say on whether Hooters can open its doors on George Street. The Sundance Complex broke the news on Twitter yesterday of its plans to close Club One and re-open this spring as Hooters.

http://www.vocm.com/newsarticle.asp?...42862&latest=1

Our friend Jennifer is going to apply. She already bought the uniform for Halloween,

[north 42]

Hooters has vile food, one of the driest burgers I have ever had, plus, you have to deal with the waitresses hanging around and sitting at your table trying to chat you up. Just get my fucking food, and stop bugging me!
The one in Windsor lasted a few years, but closed, probably due to sub par food.

[SpongeG]

people don't go there to eat

[SignalHillHiker]

It's getting a rough reception here. All of the straight guys I know personally are opposed to it full stop or just because of its location. All of the guys interviewed in CBC's streeter were opposed.

All of the women I know are fine with it - and all of the women CBC interviewed are likewise supported.

WTF is wrong?

[esquire]

Originally Posted by SignalHillHiker

It's getting a rough reception here. All of the straight guys I know personally are opposed to it full stop or just because of its location. All of the guys interviewed in CBC's streeter were opposed.

All of the women I know are fine with it - and all of the women CBC interviewed are likewise supported.

WTF is wrong?

It's a glorified sports bar that tends to do best in the US suburbs. The food is pretty much what you'd expect for a place like that. I don't think it's bad at all, but I don't go in there expecting 5-star dining... just wings, burgers, fries and cold beer to wash it down.

Hooters is not as big a deal in Canada because we already have a lot of restaurant chains that specialize in sexy waitresses... places like Earl's, Joey's, Shark Club, Cactus Club.

[miketoronto]

The Hudson's Bay Queen Street will still mostly be Hudson's Bay.

Saks is only going to cover about 150,000 sq feet of the 1 million sq foot building. That is basically like one floor (although hey will make it take up parts of more than one floor from what I can tell from the news).

This is actually pretty bad. Toronto is getting a Saks that is no bigger than a suburban branch store, and really not fitting for a large city like Toronto.
So lackluster.

This also brings to truth the rumors from the start with the man that bought HBC and Lord & Taylor.
When he first bought the chains, it was said he was only interested in the property. In fact at one point, he was thinking of closing the flagship Lord & Taylor in Manhattan, and turning it into condos.
He really was just in it to buy the pricey real estate and then sell off all real estate assets to make a quick buck.

With this move, that is party true, because why would a retail company intent on staying open as retail, sell and start paying rent? Makes no sense.
This could be really bad for Canada's and some of America's iconic retail properties.

[WhipperSnapper]

Why would a retailer have 650 million dollars tied up in real estate otherwise known as non core assets? Now, that makes little sense.

[MalcolmTucker]

Originally Posted by WhipperSnapper

Why would a retailer have 650 million dollars tied up in real estate otherwise known as non core assets? Now, that makes little sense.

Exactly. Focus on core competencies! They have long term leases for most of their stores, why should they need to retain property management branches for just a select few? Their real expertise should be in managing leases.

[MustangJay]

Saks opening a store within The Bay is a horrible idea that will certainly create brand confusion for customers and water down Saks' image. Can't HBC ever do anything right? Saks is going to need a top notch security team at the Eaton Centre to deal with all the mall rats and shoplifters that are sure to frequent the store. On the up side, Sherway is getting a Saks that will likely do well (and isn't a jumbled hodgepodge like the d/t location).

[taal]

Originally Posted by LeftCoaster

I think you missed the point of the buyout...

Can you elaborate, what is point ?

It seems like a good way for the Bay to get cash, and there is a lot less risk then converting the store on bloor (which will probably remain in the short term but I can see the Bay vacating the location ... and it getting redeveloped).

[ue]

I thought they were converting the Bloor St Bay store into a Saks? Why convert a floor of the company flagship into another store, especially when there will be another 2 kilometers to the north.