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Holt Renfrew plans big expansion to compete with Nordstrom's
Canadian Push Canada’s high-end fashion retailer enters the ‘off-price’
fray with hr2 stores. Holt Renfrew is launching a chain
called hr2, which will sell high-end apparel in lower-rent
locations at discount prices. Off-price is undeveloped in
Canada and with Nordstrom going north Canada's high-end
retailer plans on responding with growth of their own with
10 stores. "It's going to be a battle."
(Source
canadianbusiness.com)
Whole Foods co-CEO says grocer wants to open 40 or more
stores in Canada Eventually tallying $1-billion in annual sales in Canada as
part of a wider expansion that continues unabated. Austin,
Texas-based Whole Foods’ goals for Canada are ambitious
considering it has only nine stores here currently, all of
them in B.C. and Ontario. The company, which is the largest
U.S. natural and organic supermarket chain. It now has about
350 stores, the vast majority of them in the United States,
and yearly sales of $12-billion. (Source
financialpost.com)
The "Target effect" hits Wal-Mart Canada in 1st Quarter
Even Wal-Mart Canada may not be immune to what retail
watchers are calling “the Target effect.” Same-store sales,
operating income and foot traffic suffered at the country’s
biggest mass merchant during Target’s first quarter in
Canada, amid a period of dampened consumer spending and
unusually cold weather. More critically, sales at Canadian
stores open for more than a year, an important barometer of
retail health known as same-store sales, fell 1.3% in the
period ended April 30 and customer traffic at those stores
declined 2%. Walmart Canada had prepared extensively for
Target’s arrival in the past year by significantly boosting
its assortment of food and by renovating and adding multiple
stores, upping its store count by 13.8% as it took over 39
Zellers stores and boosting overall square footage in the
Canadian market by a whopping 10.6%. (Source
canada.com) |
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