[Skeezix]

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.

Why would a chain with mostly suburban stores need a downtown store for people coming in from the suburbs? The showcase notion seems dubious - with retailers and CF offering them good money for that space, it seems highly unlikely that Sears is keeping that store open simply because it acts as a bricks-and-mortar version of a flyer for shoppers who all live much closer to other Sears stores. And if the suburban stores are heavily subdizizing the Eaton Centre, then wouldn't that be a huge plus for the rest of the chain if this store closed? There are so many problems with Sears -- if they go bankrupt it would likely have nothing to do whatsoever with the Eaton Centre store, and closing that store would likely benefit the chain. I actually think that if the Eaton Centre store closes, someone at Sears is making some tough and wise decisions. Given that Sears is closing its downtown stores in other cities, it seems like Sears fate will be decided in the suburbs, not at the Eaton Centre.

 

[Skeezix]

New York Times article on American retailers setting up shop in Canada, with focus on Nordstrom: American Retailers Face Challenges in Expanding to Canada

 

[vancouverguy_76]

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

Yes, Sporting Life will build a replacement store near the new Holt Renfrew at the North end of the mall: http://www.retail-insider.com/2012/07/nordstroms-location-in-torontos-sherway.html

"Sporting Life will be relocated to a new expansion of Sherway Gardens at the North end of the mall, along with a large new Harry Rosen men's store and a 102,000 square foot Holt Renfrew store."

New Sherway Gardens rendering also shows this image of new Nordstrom, in blue: http://www.retail-insider.com/2012/09/new-nordstrom-pacific-centre-and.html

 

[ACT7]

http://www.retail-insider.com/#!/2012/09/nordstroms-canadian-headquarters-will.html

Nordstrom's Canadian Headquarters will be in Toronto

We have received confirmation that Nordstrom's Canadian headquarters will be located in Toronto. Nordstrom and Cadillac Fairview are working out an office tenancy agreement in an office tower connected to the Toronto Eaton Centre.

We initially speculated that Nordstrom's Canadian headquarters would be located above its 230,000 sq ft Vancouver, BC location. Instead, the 280,000 sq ft of office space will be leased externally.

Negotiations between Cadillac Fairview and Sears are underway so that Nordstrom's flagship Canadian location will be located in part of the space currently occupied by Sears at the Toronto Eaton Centre. They are seeking 225,000-270,000 square feet of retail space. Cadillac Fairview is also considering buying Sears' ~150,000 sq ft lease at its Fairview Shopping Centre in suburban Toronto. Toronto's Yorkdale Shopping Centre is another possible Nordstrom location, though negotiations with its property managment have stalled.

 

[Skeezix]

Nordstrom and Cadillac Fairview are working out an office tenancy agreement in an office tower connected to the Toronto Eaton Centre.

Wouldn't it be ironic if Nordstrom's offices end up at 250 Yonge, where the Eaton's offices used to be. The skywalk connecting the office building to the 6th floor of the department store space is still there (although presumably Nordstrom is interested in lower floors).

 

[ILuvTO]

Nordstrom's Canadian Headquarters will be in Toronto

We have received confirmation that Nordstrom's Canadian headquarters will be located in Toronto. Nordstrom and Cadillac Fairview are working out an office tenancy agreement in an office tower connected to the Toronto Eaton Centre.

We initially speculated that Nordstrom's Canadian headquarters would be located above its 230,000 sq ft Vancouver, BC location. Instead, the 280,000 sq ft of office space will be leased externally.

Negotiations between Cadillac Fairview and Sears are underway so that Nordstrom's flagship Canadian location will be located in part of the space currently occupied by Sears at the Toronto Eaton Centre. They are seeking 225,000-270,000 square feet of retail space. Cadillac Fairview is also considering buying Sears' ~150,000 sq ft lease at its Fairview Shopping Centre in suburban Toronto. Toronto's Yorkdale Shopping Centre is another possible Nordstrom location, though negotiations with its property managment have stalled.

If Nordstrom is going to take some space at TEC, they should just take all of it, or CF should take all of it back and give Nordstrom what they want and split the rest up and lease to smaller stores. I don't see how Sears and Nordstrom can survive sharing the same space. The main floor is the prime floor that drives traffic for the rest of the store. Whoever doesn't get this space will quickly become irrelevant in the mall.

Edit: Good news about Fairview. The Fairview Sears is pathetic. If that were to become a Nordstrom it would fit in with the Mall's current repositioning to the upper mid market.

 

[prosperegal]

If Nordstrom is going to take some space at TEC, they should just take all of it, or CF should take all of it back and give Nordstrom what they want and split the rest up and lease to smaller stores. I don't see how Sears and Nordstrom can survive sharing the same space. The main floor is the prime floor that drives traffic for the rest of the store. Whoever doesn't get this space will quickly become irrelevant in the mall.

Edit: Good news about Fairview. The Fairview Sears is pathetic. If that were to become a Nordstrom it would fit in with the Mall's current repositioning to the upper mid market.

Not surprised that the Canadian HQ will be in Toronto. Nordstrom is from Seattle, right? I actually think it makes sense for them to be on the other side of the continent - Starbucks did the same thing. Their Canadian HQ is in North York.

 

[ILuvTO]

Not surprised that the Canadian HQ will be in Toronto. Nordstrom is from Seattle, right? I actually think it makes sense for them to be on the other side of the continent - Starbucks did the same thing. Their Canadian HQ is in North York.

Agreed. I was surprised to hear that they were initially thinking of putting their Canadian HQ in Vancouver. Glad it will be Toronto!

 

[Skeezix]

Nordstrom looks for Canadian space for discount Nordstrom Rack
Published on Tuesday November 06, 2012
TheStar.com

Now that Nordstrom has secured four prime retail locations in Canada, the Seattle-based department store chain is looking for suitable venues for discount Nordstrom Rack locations.

Nordstrom announced in September it would be opening in spaces vacated by Sears Canada at prime locations in Vancouver, Ottawa and Calgary, and at Sherway Gardens in Toronto, beginning in 2014.

During an earnings call on Tuesday, executives at RioCan Real Estate Investment Trust told analysts that Nordstrom is actively looking for space for Nordstrom Rack locations in prime urban markets.

Longo’s, Loblaw and Shoppers Drug Mart are also actively seeking urban infill locations.

Nordstrom wants to open Rack locations by early 2013, analysts were told. That will put it in direct competition with Holt Renfrew’s new mid-range retail venture.

Canada’s luxury retailer announced in October that it will launch a new store concept called hr2, offering designer wear at more affordable prices.

It hopes to open the first hr2 in the Montreal area in 2013

 

[samsonyuen]

Nordstrom Announces Full-Line Store at Yorkdale Shopping Centre in Toronto:
http://www.marketwatch.com/story/no...hopping-centre-in-toronto-2013-04-08-91733610

 

[prosperegal]

Still waiting for a downtown location announcement...at least Yorkdale is connected to the subway.

 

[bleu]

Still waiting for a downtown location announcement...at least Yorkdale is connected to the subway.

I hope they can open a flagship store somewhere east of Yonge st. Instead of Eaton/centre or King/queen/Front west
West side received enough attention already while east of Church st there is no mid or large retail whatsoever.

 

[dt_toronto_geek]

My roommate works at Yorkdale & just got home with this news. Apparently they are taking over the Sears store and adding an additional floor for three levels of Nordstrom.

 

[sixrings]

the render shows the parking garage location.. it was widely rumoured it was to be the sears location but it cant be at a cost of 300 million... The render must be accurate and your roommate only got part of the facts.

 

[Retail-Insider]

My roommate works at Yorkdale & just got home with this news. Apparently they are taking over the Sears store and adding an additional floor for three levels of Nordstrom.

Nordstrom will be going at the opposite end of the mall from Sears via another mall expansion. Sears will stay where it is for now, though both department stores will be almost exactly the same size (190,000 sq ft Sears and 188,000 sq ft Nordstrom).