[Dan416]

I wonder where Oxford thought to put Nordstrom at Square One anyway? Not that it matters now since they chose Sherway instead, but I am curious.

 

[taal]

I heard sears are an amazingly cheap lease rate at the eaton center.

 

[vancouverguy_76]

Looks like Toronto's first Nordstrom will be 138,000 sq ft in Sherway Gardens opening Fall 2016, and that two more may open in Toronto as well: http://www.retail-insider.com/2012/09/nordstrom-press-release-names-first.html

"The Toronto Sherway Gardens store will be about 138,000 square feet, and will be a newly-built store at the south-end of the mall (currently occupied by Sporting life, as we previously reported). It will open Fall 2016.

And now for the information not provided in today's press conference. Nordstrom and Cadillac Fairview are actively trying to take over Sears leases at The Toronto Eaton Centre and Toronto's Yorkdale Shopping Centre. Part of the 800,000 square foot Toronto Eaton Centre store would be Nordstrom, part of the space would be sub-divided, and part might possibly go to La Maison Simons, the Quebec-based retailer seeking a Canadian expansion. The 190,000 square foot Yorkdale store would be entirely (or mostly) Nordstrom, going head-to-head with neighbouring Bay and Holt Renfrew stores."

www.retail-insider.com

 

[TOareaFan]

I heard sears are an amazingly cheap lease rate at the eaton center.

Yes...I think the hint might be in the original name of the store before Sears bought the predecessor company.

 

[DavidJamesTO]

The closure of Sears at Eaton Centre will be a sure-fire sign that the company is doomed. Bankruptcy filing will come within six months.

 

[Tewder]

I wonder if Nordies would be an odd choice for the Eaton Centre/Dundas Square area? I would have thought they'd prefer a more up-market area?

 

[Thanos]

The Bay at Bloor & Yonge would be a great location. I don't see the need for Bay to have 2 downtown locations. They can then put the effort to improve the Queen St Bay.

 

[superleggera]

Does anyone know if Sporting Life plans to open another location to replace the Sherway one?

 

[Tewder]

The Bay at Bloor & Yonge would be a great location. I don't see the need for Bay to have 2 downtown locations. They can then put the effort to improve the Queen St Bay.

Good idea, and maybe they'd do something to that bunker of a facade!

 

[ACT7]

The Bay at Bloor & Yonge would be a great location. I don't see the need for Bay to have 2 downtown locations. They can then put the effort to improve the Queen St Bay.

The Yonge and Bloor location is in talks to bring Bloomingdales to it. I doubt very much Nordstrom and Bloomingdales would be sharing the same space.

 

[Observer Walt]

Does anyone know if Sporting Life plans to open another location to replace the Sherway one?

Nordstrom willl be occupying the space on the south side of Sherway. Sporting Life will definitely stay in the mall, but at a different location (it's a good location for them).

(My guess): Nordstrom will take advantage of a Sears location, either Yonge and Dundas, or Yonge and Bloor. The Bloor Street location is well situated, and about to get better with major development coming to the immediate vicinity, but the store would need to be rebuilt inside and outside, from its present incarnation as possibly the ugliest major retail structure in the downtown core.

 

[Skeezix]

The closure of Sears at Eaton Centre will be a sure-fire sign that the company is doomed. Bankruptcy filing will come within six months.

Why would you say that? Sears has traditionally not had downtown stores in Canada, and they never appeared to do particularly well the relatively few years they've had them. Sears has tremendous problems, but if they go bankrupt it will have little to do with the closure of their Eaton Centre store. In fact, depending on how much cash they get for the store, the closure of this Sears could help them stave off bankruptcy. For awhile, at least. Geting rid of underperforming downtown stores is long overdue and is more likely to help Sears than itself trigger bankruptcy.

 

[Skeezix]

Nordstrom willl be occupying the space on the south side of Sherway. Sporting Life will definitely stay in the mall, but at a different location (it's a good location for them).

(My guess): Nordstrom will take advantage of a Sears location, either Yonge and Dundas, or Yonge and Bloor. The Bloor Street location is well situated, and about to get better with major development coming to the immediate vicinity, but the store would need to be rebuilt inside and outside, from its present incarnation as possibly the ugliest major retail structure in the downtown core.

Sears does not have a store at Yonge and Bloor. And I don't see the Bay wanting to help Nordstrom out by giving them that location.

It is the ugliest retail structure in the downtown. Agreed.

 

[Tewder]

Would there be enough retail space in the new 1 Bloor East for a department store?

 

[DavidJamesTO]

Why would you say that? Sears has traditionally not had downtown stores in Canada, and they never appeared to do particularly well the relatively few years they've had them. Sears has tremendous problems, but if they go bankrupt it will have little to do with the closure of their Eaton Centre store. In fact, depending on how much cash they get for the store, the closure of this Sears could help them stave off bankruptcy. For awhile, at least. Geting rid of underperforming downtown stores is long overdue and is more likely to help Sears than itself trigger bankruptcy.

I see the Eaton Centre store as a loss leader--it's a nice showcase for people coming from the suburbs for the day, showing off what they can expect at their store. I expect it's also subsidized heavily by the suburban stores, so if they shut down their "flagship" it means that something is wrong with the rest of the chain.