General Retail News - Page 76

Harley613 · #**1501** Posted **Mar 24, 2015, 12:20 AM**

Elite BMW on Ogilvie has fully moved into the old Ogilvie Subaru building and the BMW/Mini building is completely down to rubble.

rocketphish · #**1502** Posted **Mar 24, 2015, 5:05 PM**

La Vie en Rose buying insolvent swimwear retailer Bikini Village, Gatineau location one of only four to close

The Canadian Press ~ OBJ
Published on March 24, 2015

Canadian lingerie and swimwear retailer Boutique La Vie en Rose is buying insolvent chain Groupe Bikini Village (TSXV:GBV) for an undisclosed price.

La Vie en Rose says it plans to continue operating 48 of Bikini Village's 52 stores under the Bikini Village banner, preserving 300 of the 400 Bikini Village jobs.

The four stores that will close are all Bikini Village liquidation centres, including one in Gatineau, according to La Vie en Rose spokesperson Emilie Gentes. Ms. Gentes said those locations are closing because La Vie en Rose already has liquidation centres in those regions.

The deal, which is subject to approval by a Quebec Superior Court judge, is expected to close the end of March, the companies said Tuesday.

Bikini Village filed for creditor protection last month under the Bankruptcy and Insolvency Act after posting a series of million-dollar quarterly losses.

La Vie en Rose CEO Francois Roberge said the acquisition will help to consolidate its position as Canada's leading swimwear retailer while also opening the Bikini Village banner outside the country.

The Montreal-based chain has nearly 180 stores across Canada operating under three banners – La Vie en Rose, La Vie en Rose Aqua, and La Vie en Rose Outlet. Since 2004, it has opened more than 90 stores in some 17 countries.

http://www.obj.ca/Local/Retail/2015-03-2...eau-location-one-of-only-four-to-close/1

Acajack · #**1503** Posted **Mar 24, 2015, 7:09 PM**

Quote:

Originally Posted by McC

Be careful about Britannia Beach, it's the only picnic area in town that I've noticed to be relatively well-patrolled and controlled.

Or he can just stay on the Quebec side...

http://www.lapresse.ca/le-droit/actualit...tario-plus-davertissements-au-quebec.php

Radster · #**1504** Posted **Mar 24, 2015, 7:14 PM**

So thats the one on Boul. de la Carriere, by the SAQ (near Casino in Hull) which will close. For a liquidation shop, I never found it had amazing deals to be honest, and always hard to find the right size in the style you like. No big loss.

Acajack · #**1505** Posted **Mar 24, 2015, 7:23 PM**

Quote:

Originally Posted by Radster

So thats the one on Boul. de la Carriere, by the SAQ (near Casino in Hull) which will close. For a liquidation shop, I never found it had amazing deals to be honest, and always hard to find the right size in the style you like. No big loss.

Wow, I did not even know they had one there and I go by there all the time -several times a week!

When I read "Gatineau" I was kind of surprised that it might be Les Promenades' location.

If you're selling bikinis, you wanna be in Gatineau. This place is "pitoune" central and pitounes love their bikinis.

Cre47 · #**1506** Posted **Mar 28, 2015, 2:29 PM**

Looks like there will be no more Future Shop stores. Anything left will be transfered to Best Buy (the parent brand).

http://www.ctvnews.ca/business/future-shop-closes-all-retail-stores-in-restructuring-move-1.2301881

rocketphish · #**1507** Posted **Mar 28, 2015, 2:42 PM**

Future Shop shutters Canadian stores, will re-brand as Best Buy

MARINA STRAUSS - RETAILING REPORTER
The Globe and Mail

Published Saturday, Mar. 28 2015, 9:46 AM EDT
Last updated Saturday, Mar. 28 2015, 10:36 AM EDT

U.S.-based electronics retail giant Best Buy Co. is closing its 131 Future Shop stores Saturday and will re-open 65 of them in a week under the Best Buy banner in a bid to bolster business.

The company said “a significant number” of its Future Shop and Best Buy stores are located near each other, often in the same parking lot.

After the closures, the company will have a total of 192 stores across the country, including 136 large ones under the Best Buy name and 56 smaller Best Buy Mobile stores.

Ron Wilson, president of Best Buy Canada, said 80 per cent of customers are within a 15 minute drive to a store and “this won’t change. We will continue to have a strong store presence in all major markets in Canada.”

As a result of the consolidation, about 500 full-time and 1,000 part-time jobs will be lost, the company said. The affected employees will receive severance and help with outplacement support, it said.

Best Buy expects to post restructuring charges and non-restructuring impairments of between $250-million and $350-million, or 41 cents a share (U.S.) to 58 cents a share, it said. This includes $175-million (Canadian) to $225-million of cash charges, mostly tied to future rent obligations and severance, that will be paid over the next five years.

The company said it expects diluted earnings per share to be negatively affected in fiscal 2016 in the range of 10 cents (U.S.) to 20 cents a share, primarily because of a temporary increase in operational expenses related to the consolidation and store disruptions. But it doesn’t expect the negative earnings impact to continue into future years, it said.

It said it will invest up to $200-million (Canadian) in Best Buy stores and its web site, while launching major home appliances in all stores and increasing staff levels.

“Any decisions that impact our people are never taken lightly,” Mr. Wilson said in a statement. “Our first priority is to support them through this change.”

http://www.theglobeandmail.com/report-on...-closes-canadian-stores/article23677084/

wingman · #**1508** Posted **Mar 28, 2015, 3:04 PM**

So have to figure the following will close?
Gatineau
Kanata
Merivale (Nepean)
Gloucester already closed

To be converted maybe?
Barrhaven
Orleans
South Keys

This cannot come as a surprise, other than the fact they did it with no warning to the employees (which I don't think should be allowed).

MichelKazan · #**1509** Posted **Mar 28, 2015, 3:15 PM**

I've always found it annoying that neither of them had a store downtown like they do in Toronto and Montréal. It would've been great for the Rideau Centre expansion. Guess that's not happening now.

wingman · #**1510** Posted **Mar 28, 2015, 3:17 PM**

Quote:

Originally Posted by MichelKazan

I've always found it annoying that neither of them had a store downtown like they do in Toronto and Montréal. It would've been great for the Rideau Centre expansion. Guess that's not happening now.

I second that! I was just thinking about that the other day. Sadly that day has probably come and gone with the retail landscape in the state it is in.

eternallyme · #**1511** Posted **Mar 28, 2015, 4:05 PM**

Quote:

Originally Posted by wingman

So have to figure the following will close?
Gatineau
Kanata
Merivale (Nepean)
Gloucester already closed

To be converted maybe?
Barrhaven
Orleans
South Keys

This cannot come as a surprise, other than the fact they did it with no warning to the employees (which I don't think should be allowed).

Barrhaven and Orleans are most likely to convert, I'm on the fence with South Keys since that is a lower income area and not terribly far from Merivale Road. Agreed that the Gatineau, Kanata and Merivale FS stores are empty space now (IMO it is a shock they lasted this long!).

eternallyme · #**1512** Posted **Mar 28, 2015, 4:08 PM**

Quote:

Originally Posted by MichelKazan

I've always found it annoying that neither of them had a store downtown like they do in Toronto and Montréal. It would've been great for the Rideau Centre expansion. Guess that's not happening now.

I don't know if there is enough population in downtown Ottawa to support such?

Also the Merivale Future Shop is in an isolated storefront area. Maybe that building should be torn down for high-density residential?

canabiz · #**1513** Posted **Mar 28, 2015, 5:30 PM**

When it rains, it pours but it's just a matter of time as online purchase is becoming more and more popular and people don't buy electronics like they used to.

I don't think there will be any sales with BB taking on the merchandise but I hope the FS employees will land on their feet soon.

Cre47 · #**1514** Posted **Mar 28, 2015, 5:31 PM**

And let's add this as well to the list of retail closures. I think that's two more blank spaces for Bayshore

http://www.cbc.ca/news/business/ricki-s-...ose-stores-under-restructuring-1.3011874

eternallyme · #**1515** Posted **Mar 28, 2015, 5:43 PM**

Quote:

Originally Posted by Cre47

And let's add this as well to the list of retail closures. I think that's two more blank spaces for Bayshore

http://www.cbc.ca/news/business/ricki-s-...ose-stores-under-restructuring-1.3011874

Will they even be able to fill the expansion now? Or did it just come at a bad time?

11a2b3 · #**1516** Posted **Mar 28, 2015, 5:58 PM**

Future shop was much better than parent retailer Best Buy. A sad day. Their stores seemed always busy, unlike the joke that was Target.

Quote:

I don't know if there is enough population in downtown Ottawa to support such?

I live downtown, there is more than enough demand for a large format electronics/appliances store.

Cre47 · #**1517** Posted **Mar 28, 2015, 6:11 PM**

Oops sorry, they didn't specify how many locations will be closed, so not sure if the Bayshore locations of Ricky's and Cleo will be affected by any closures. I know Ricki's in 3rd level closer to the ex-food court and Cleo is near the Winners on the 2nd floor's post-Les Ailes section so it didn't affect the expansion area. In the expansion I think there is Desigal is the only store that is set to open soon in the expansion area (2C).

1overcosc · #**1518** Posted **Mar 28, 2015, 7:09 PM**

The demographic that is increasingly living downtown--the young--are the most likely to online shop, so stores that are already heavily threatened by online shopping are not the ones that are going to be investing in downtown stores.

I wonder if Toronto's Dundas Square store is shuttering. That storefront must be very high value with expensive rent so the company may not want to continue paying for it. Somewhat sad as that building was a pretty cool example of what are normally big box retail functioning in an urban manner.

acottawa · #**1519** Posted **Mar 28, 2015, 8:11 PM**

I'm surprised it took this long, they have been running two overlapping brands (with an unclear differentiation between the two) for 14 years. Sad for the employees. Also, memories of boxing days.

canabiz · #**1520** Posted **Mar 28, 2015, 9:12 PM**

Quote:

Originally Posted by 1overcosc

The demographic that is increasingly living downtown--the young--are the most likely to online shop, so stores that are already heavily threatened by online shopping are not the ones that are going to be investing in downtown stores.

I wonder if Toronto's Dundas Square store is shuttering. That storefront must be very high value with expensive rent so the company may not want to continue paying for it. Somewhat sad as that building was a pretty cool example of what are normally big box retail functioning in an urban manner.

This is a very good point. I might add that many folks living downtown or in the more trendy areas that are well-served by public transit also don't typically own a car/truck/SUV and picking up big box items can present challenges.

My buddy asked me to help him pick up a 51" TV last night from a WalMart that is literally 5 minutes from his new dig in Kanata. For some reasons, they would not deliver or maybe the delivery fee was a bit high for my buddy's liking. Whatever the case, the TV doesn't fit in his Hyundai Genesis even after he folded the backseat down and tried to slide through the trunk. He asked me for a favour and I had no problem putting it in our compact SUV (X-Trail) to help out a friend.

Maybe certain Uber drivers own trucks/SUVs that can come in handy for this type of situation and is cheaper than store delivery?