Saks Fifth Avenue Flagship (Queen & Yonge)

[maestro]

Much smaller luxury market in Montreal, different market in a lot of ways. A lot of retailers entry later (i.e. Banana Republic who rolled out across the country before even bothering with Montreal). Part of it is economic - higher tax structure, and part of it is cultural, different local shopping patterns. Nordstrom for example isn't looking at the Montreal market. My point is that a lot of what baker is saying about Canada seems somewhat bluster and uninformed. Even with Montreal - I can't see more then 5 (AT MAX) Saks stores in Canada.

Isn't the Saks expansion simply rebranding current Bay stores?

 

[interchange42]

Not necessarily. It's possible that Saks will take the Sears location at Sherway and the existing Hudson's Bay may stay, and there are other examples where that may be the case. They simply have not been definitive about it yet.

It may not go that way at Sherway though. It's the disappearing Sears that lead to the biggest questions at the moment, with a handful of suitors currently vying for them.

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[MartinMtl]

Much smaller luxury market in Montreal, different market in a lot of ways. A lot of retailers entry later (i.e. Banana Republic who rolled out across the country before even bothering with Montreal). Part of it is economic - higher tax structure, and part of it is cultural, different local shopping patterns. Nordstrom for example isn't looking at the Montreal market.

The delay for some large chains to open shop in Montreal has less to do with the market's potentiel (luxury or not) than with law 101. H&M and Banana Republic, for exemple, opened late in the province because they first had to establish a translation department for all their literature, be it publicity, communications with employees, web site etc. It's a very cumbersome task, but they have to do it to compel to the law and to be quebec-friendly with a clientele that is mostly french-speaking. Therefore, it means a more costly move than opening in an english-ready market like the rest of Canada.

The fact that companies like H&M and Banana Republic can, then, open many stores across the province makes the effort worthwhile. On the other hand, a company like Nordstrom would have to do all this work to open only ONE store in Montreal, and they decided to wait. If they are very successful in other canadian markets, then they will surely consider coming to Montreal despite the extra cost that this implies.

 

[gabe]

I can't see Saks replacing any other Bay stores in Toronto. Unlike the Bay or Nordstrom, Saks doesn't carry any mid priced designer labels. They carry only the top of the line labels.

 

[khris]

It's the disappearing Sears that lead to the biggest questions at the moment, with a handful of suitors currently vying for them.

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Sounds like you know something

 

[Peepers]

Not necessarily. It's possible that Saks will take the Sears location at Sherway and the existing Hudson's Bay may stay, and there are other examples where that may be the case. They simply have not been definitive about it yet.

It may not go that way at Sherway though. It's the disappearing Sears that lead to the biggest questions at the moment, with a handful of suitors currently vying for them.

42

If this recent report in the Globe & Mail is to be believed Macy's and Kohl's are not interested in Sears but there could be interest from European or Asian retailers:

http://www.theglobeandmail.com/repo...s-shine-fading-for-us-stores/article15594848/

And the obvious suitors for Sears, such as U.S. retailers Macy’s Inc. and Kohl’s Corp., aren’t interested at this time, industry sources said. Officials at Kohl’s couldn’t be reached for comment. Jim Sluzewski, a spokesman for Macy’s, said that while the company doesn’t comment on potential store locations, “we have indicated on many occasions that we have no plans for expansion in Canada.”

But he said a European retailer such as Carrefour of France, German-based Metro AG or British Tesco or Marks & Spencer may be interested in Sears’ stores, or an Asian merchant, such as Lotte Mart or Daiei.

 

[DKsan]

Omgyes can we get marks and spencers back?!

 

[marsh]

Well I hope the talk about expansion of Saks is not all bluster - a renovated Saks on Bloor where the current Bay sits could really be an anchor to Bloor Street shopping strip; I'm hoping that the retail on Bloor 1 condo will be excellent too - I am confused though how the Bay fits in with these expansion schemes - at least a lot of money was put into the Queen Street Bay into attracting high end designers (at least women's apparel) and renos.

 

[Mithras]

From what I’ve heard and been privy to, Saks is only really looking at the Bloor site and the Sears site at Yorkdale.

Nordstrom’s will have a new build at Yorkdale, is looking at the Sears site at Sherway and is kicking the tires at Square 1 (which they have to do to get into Yorkdale).

Carrefour has looked at Canada as a potential landing spot as has Debenhams. I have heard that Karstadt (KaDeWe) has looked at a potential few locations and know that Harvey Nicholas and Bloomingdales have looked at one off crown jewel type stores in Toronto (in Harvey Nicks case in conjunction with a Canadian developer in NYC as well).

 

[Tewder]

A Saks at Yonge will very likely be the catalyst for an upgrading of retail southwards towards Dundas Square.

 

[JasonParis]

I wonder if they could actually improve the basement level significantly - it is an extremely claustrophobic space due to the low ceiling and crowdedness from inadequate TTC crush space.
AoD

I know that part of the reason that the Yonge Station platforms can't be extended like the Bloor platforms upstairs were in the 1990s was due to the The Bay's basement structural-support. I wonder if a massive reno could change that and that Y&B Station could be improved yet again. Although, this could also be used as an excuse for NOT building the DRL yet too.

Carrefour has looked at Canada as a potential landing spot as has Debenhams. I have heard that Karstadt (KaDeWe) has looked at a potential few locations and know that Harvey Nicholas and Bloomingdales have looked at one off crown jewel type stores in Toronto (in Harvey Nicks case in conjunction with a Canadian developer in NYC as well).

Some many possibilities! Since we are dreaming, the UK's John Lewis would be great in Canada too.

 

[Filip]

From what I’ve heard and been privy to, Saks is only really looking at the Bloor site and the Sears site at Yorkdale.

Nordstrom’s will have a new build at Yorkdale, is looking at the Sears site at Sherway and is kicking the tires at Square 1 (which they have to do to get into Yorkdale).

Carrefour has looked at Canada as a potential landing spot as has Debenhams. I have heard that Karstadt (KaDeWe) has looked at a potential few locations and know that Harvey Nicholas and Bloomingdales have looked at one off crown jewel type stores in Toronto (in Harvey Nicks case in conjunction with a Canadian developer in NYC as well).

Why would Nordstrom look at the Sears site at Sherway when they're building a new store at the south end of the mall?

 

[Northern Magus]

A Saks at Yonge will very likely be the catalyst for an upgrading of retail southwards towards Dundas Square.

In conjunction with 1BE, without a doubt. I rather suspect that Yonge between Bloor and College will be one of the next big hotbeds of intensification.

For me, the interesting question is to what extent will Saks and 1BE also help pull the Mink Mile east.

 

[maestro]

I recall Hudson Bay Centre's underground parking garage surrounds Yonge Station. If so, at issue isn't reconfiguring the parking decks but, striking an agreement with now Brookfield.

 

[thecharioteer]

The challenges for converting the Bay store are two-fold: 1) The awkward half-flight up above grade to the main floor and, 2) The low ceiling heights throughout the store. These goes beyond façade treatment.

I think that the owners should bite the bullet and do a full demolition, including the underground mall. Though I can appreciate the business case for maintaining income from the underground mall and saving on structure, it is ultimately a short-sighted solution, similar to doing a renovation to an intrinsically badly designed house, whereas as starting from scratch would give you exactly what you want.

Interesting article in the "Retail Insider" which raises some of these points: http://www.retail-insider.com/