The Metro Vancouver Retail Thread

[jollyburger]

Originally Posted by Vin

With this bit of gain, they should do something better with their existing stores, like the incorporation of food halls, etc. Otherwise, they will be back to square one but having less properties to sell in the future.

They are having problems paying suppliers. They aren't investing in food halls.

Sources at two companies in Canada who do business with Hudson’s Bay confirmed to The Globe that the retailer has fallen behind on payments in recent months, leading one of them to put product deliveries on hold. The sources asked not to be named because they have an continuing relationship with HBC, and are awaiting payment.

While 90-day payment periods are common in the retail industry, and it is not uncommon for retailers to fall slightly behind, HBC has been weeks or months late since last spring, according to the people who spoke to The Globe.

Earlier this week, industry publication The Business of Fashion reported that HBC’s U.S. chain Saks had been withholding payments from multiple vendors, citing unnamed sources. The sources told the publication that they had reduced the number of products they were shipping to Saks, or stopping shipments, while they awaited payment. The publication also reported the US$340-million transactions on Tuesday.

That report followed an anonymous claim on social media account Estée Laundry, which claimed Estée Lauder had stopped fulfilling orders from Saks as the company has failed to pay past invoices. Estée Lauder did not respond to a request for comment.

https://www.theglobeandmail.com/busi...tate-payments/

[whatnext]

Originally Posted by jollyburger

They are having problems paying suppliers. They aren't investing in food halls.



https://www.theglobeandmail.com/busi...tate-payments/

They also just announced a new (old) president:

https://wwd.com/business-news/retail...ay-1235961801/

[jollyburger]

They say their real estate portfolio is so valuable and then they keep dumping those precious assets. How is that sustainable?

[SpongeG]

Originally Posted by jollyburger

They say their real estate portfolio is so valuable and then they keep dumping those precious assets. How is that sustainable?

its owned by an investment firm now isn't it? the guy who bought kmart years back was an investor he didn't know or care about retail and made crap tons of money selling of kmart stores and sears etc.

[Vin]

Originally Posted by jollyburger

They are having problems paying suppliers. They aren't investing in food halls.

https://www.theglobeandmail.com/busi...tate-payments/

Sounds like they are selling things which people do not want, and hence their current problems. OK let me rephrase: take the little bit of profit they just made, pay off their suppliers or put their house in order, then use the remaining amount, whatever is left, to invest on something that consumers actually want, such as a food hall in their flagship stores, so that they can finally run a sustainable business.

[SpongeG]

I've been going to the Bay a lot lately, I've noticed the Zellers section is usually like a ghost town, much of the already cheap merchandise is currently found at 50% off so it's a good deal, but people don't seem interested? some of the stores have been moving the ANKO Christmas stock to the regular Bay Christmas section. Finally, they have good pricing on their Christmas merch, in past years they would only drop the price to 50% if that on Boxing Day, so having it at 60% off early means it's actually selling.

I noticed after reading about their supplier issues here that the Estee Lauder counter was looking a bit sparse, at the Guildford store, And the Polo Ralph Lauren Section was in need of better presentation they have merch mixed up and store fixtures hidden in displays and looks pretty bad.

The other thing is the real lack of staff, are they unable to hire people or choosing to ruin the store with bare-bones staff? One woman was working all the beauty counters and fragrances and there was one guy working the men's fragrances and quite a lot of shoppers who could have had some service but had to stand around and wait. It seems that way at all the stores, not a staff member at all in the housewares or furniture sections at all. And also I don't like when you see a staffed counter and you want to pay they tell you oh you can't pay here you have to go somewhere else, I guess its because the brand such as Hugo Boss isn't actually a Bay employee?

Another issue I find is the pricing should be made clearer as some of the stuff when you find the price out is actually a really good deal but the price on the item itself is usually wrong or the signage they use is wrong or in the wrong place.

Diesel is also no longer at the Richmond store, possibly pulled out of downtown too? They have opened a store at the McArthur Glen outlets though.

[Conrad Yablonski]

Originally Posted by SpongeG

I've been going to the Bay a lot lately, I've noticed the Zellers section is usually like a ghost town, much of the already cheap merchandise is currently found at 50% off so it's a good deal....

Thanks for the intel I need some new towels.

[officedweller]

Originally Posted by Conrad Yablonski

Thanks for the intel I need some new towels.

No towels on sale at the Downtown Bay and not much stock.

You can tell they are letting the building run down before redevelopment.
2 elevators are out of service, as is the main escalator from 2nd to 3rd floor (and maybe others).
There are stickers all over the floors pointing people to the stairs.
Pics by me today.

[SpongeG]

the elevator in the bay at Metrotown isn't working either and the down escalator hasn't been working for weeks either so you need to leave the mall to get from one floor to the other. Also, the down escalator at Guildford hasn't been working for weeks either, they have put up a screen and use the area for displays.

[NewfBC]

They are refurbishing the elevators at The Bay downtown.

Ron.

[jollyburger]

Seems like a few of them got overhauled in 2020. I guess these are the last two that went to the 7th floor getting the same treatment.

https://www.youtube.com/watch?v=kCHWNIvQ-9k

[teriyaki]

Today I learned there is a youtube channel dedicated to riding elevators in Vancouver.

[jollyburger]

Originally Posted by teriyaki

Today I learned there is a youtube channel dedicated to riding elevators in Vancouver.

There's two channels

https://www.youtube.com/@BCsVators/videos

[whatnext]

Originally Posted by NewfBC

They are refurbishing the elevators at The Bay downtown.

Ron.

Refurbishing or repairing? I thought they had all been redone. The last couple times a few of the escalators have been AWOL as well.

[NewfBC]

Mastermind Toys closing stores...
https://www.mastermindtoys.com/pages/storeclosures

Interesting Tsawwassen Mills isn't on the list.. it must be doing ok.

Ron.

[SpongeG]

it's too bad that they're having to close Mastermind stores, but they expanded pretty fast.

[jollyburger]

At least they managed to sell the business

https://www.theglobeandmail.com/busi...eran-retailer/

[theKB]

Originally Posted by whatnext

Refurbishing or repairing? I thought they had all been redone. The last couple times a few of the escalators have been AWOL as well.

Seems like past floor 2 to go up you have to take elevator or stairs, at least this weekend. To add to that only 2 elevators are working. Notably metrotown location also had their down escalator out as well. The bay's shopping experience is not great as it is, these kind of things just make it worse.

[NewfBC]

Originally Posted by jollyburger

At least they managed to sell the business

https://www.theglobeandmail.com/busi...eran-retailer/

This is great news. Rumours were that the Sunrise Records / Toys R Us / Etc. guy (Doug P.) wanted to buy it. Competition is always better.

Ron.

[Conrad Yablonski]

Originally Posted by officedweller

No towels on sale at the Downtown Bay and not much stock.

OK Thanks looks like it's Winners @ 8th & Cambie at least I can cycle there.