Quote:
Originally Posted by connect2source
I'm tending to think this could diminish the chances of Simons taking a portion of the PC Nordstrom space any time soon. I've no doubt Simons' resources are likely stretched pretty thin at this point with the recent opening of the Halifax store and now the Eaton Centre and Yorkdale announcements.
What happened to the rumoured announcement earlier this year for our former Nordstrom being potentially leased by Nike, Zara and Simons?
|
I thought this too. But what I think it means is that this same arrangement for Pacific Centre is
more certain than before, though it might just take a bit longer to come to fruition.
I would say that – since it's the same landlord (CF) trying to accomplish the same thing (filling leasable area) with the same former tenant's (Nordstrom) space in the same style of downtown hub mall – if they can negotiate a subdivision with these two retailers in this way, it signals that duplicating it here is not only realistic, but inevitable. Obviously the foot traffic and the draw are not on the same level, but since it's a like-for-like comparison, I think this is adding to the certainty we'll see an announcement. Maybe it's Eataly and another retailer besides Simons for the Vancouver space in the end.
The Simons' CEO's choice of phrasing when he was asked this week about Vancouver says to me there are active, productive negotiations going on; otherwise, if nothing was happening or there was just casual back-and-forth with CF, I think he would have just flat-out said "no".
Simons seems to have been careful and methodical about its expansion over the last decade since growing outside Quebec. They also spent a ton of money on a massive new distribution centre recently, so it's not just the capital expense of opening those three other stores that they have to think about. If interest rates continue to slide, it could also increase the chances that Simons is willing to take on debt in order to expand.
Prev
)
Linear Mode
