Mark's restaurants are for the expense account crowd. Which are not coming to Toronto.
Certainly, visitors are down; but a great many of the expense account crowd are still in Toronto.
Mark's business is off; but not necessarily by as much as you might imagine.
But to the extent the business was under-performing pre-pandemic; and his dine-in, once allowed, was capped at 50%, there simply was no means to sustain the weight of problem-children in the group.
His grocery stores are not only overrated but ridiculously expensive, I got some of the best steaks recently from Costco. 56 bucks for four steaks. McEwan's wanted $50 for one steak! It was the same size as what i got form Costco
Expensive yes, over-rated, depends on what you want and how you perceive quality.
Wagyu/Kobe steaks can cost over $100 retail, let's not even discuss what you have paid dining on them at Jacobs & Co.
Dry-aging adds value to some cuts; and some people may prize organic and/or grass-fed beef.
Now I'm not going to suggest Mark's Steaks were best-value; they weren't.
But you have to compare Apples to Apples; and you could not buy many of the Steaks Mark sells at Costco.
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More broadly, I think Mark could deliver better price-points on some product.
On some, he didn't have to.........unique sauces, or even properly made demi-glass are relatively hard to find in Toronto, and those who retail such can demand whatever the market will pay them.
I thought, on the one hand, he had some great value in his deli section, on the stuff they do in-house..........the medium rare striploin roast beef is exceptional, and I recall paying only $4.99 per 100grams or maybe even a bit under.
Which is not cheap deli meat, but a fair price for the best damn deli meat going.
On the other hand, the house-made salad dressings at upwards of $10 a bottle were grossly over-priced. I can make better at home, in 5 minutes flat, for a small fraction of the price.
$5.99 would be good value, and $6.99 aggressive pricing.
A lot of the hot table stuff is fair; though that varied item to item.
But the pre-packed sandwiches were completly unreasonable with prices approaching or even into the teens for some, that didn't have any premium product in them. (ie. chicken-salad sandwich)
A real weakness, in Mark's inventory and repertoire, to me, is cuisine/product boldness and ethnic diversity.
He does try to offer the latter with mixed success; but Mark is not tolerant of real heat in his food; and that shows in his offerings.
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PS, I'm only up at Mark's like 3, maybe 4x per year. Shopping there is definitely outside my weekly budget!
But I don't view it as that type of place; its where I go ahead of Thanksgiving, and Christmas when cooking for a lot people; maybe an additional time in spring and summer.
It's the place for an affordable luxury; a treat.