CANADIAN RETAIL NEWS: Wednesday, May 28, 2014 (Updated Continuously throughout the day)
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Canadian Retail News:
- Sticker shock at the meat counter [Toronto Star]
- Former B.C. premier Mike Harcourt joins medical marijuana grower as its board chairman [Business in Vancouver]
- Carlisle Wide Plank Floors Opens First Canadian Showroom [Newswire]
- Countdown is on for Target's newest collaboration [Montreal Gazette] Target to partner with Altuzarra
- Indigo Books Earnings Paint A Picture Of Long-Term Decline [Huffington Post]
- Indigo annual revenue falls for third consecutive year [Financial Post]
- Indigo reports net loss of $31 million [Toronto Star]
Luxury retail is coming to Calgary [Calgary Herald] Article discusses Calgary's high incomes, improved shopping including Canada's 1st Nordstrom store...
Panera Bread Franchisees Are Unhappy About Kiosks Replacing Clerks [Business Insider]
Fairtrade products fail to help the poor, study finds [CTV News]
- Roots Canada x Doublas Coupland collection launches in Twitter pop-up store [Newswire]
- How Starbucks has conquered Canada [Globe & Mail] Canada leads the world, eclipsing even the United States, on a café-per-person basis.
Retail Industry News:
- Apple to buy Beats Electronics for $3-billion [Globe & Mail]
- Michael Kors Profit And Revenue Jump More Than 50%, Easily Topping Estimates [Forbes]
- Google’s new car: No steering wheel, no brake pads, no gas pedals [Toronto Star]
- We've just added this column, and will continue with Thursday's post...
DAILY FEATURE: Luxury Retail In Toronto: Plenty Of Room For Growth
Can Toronto support all of its recently announced luxury retail? Holt Renfrew is expanding its Bloor Street store, building a new 120,000 square foot Mississaga unit, and has recently completed an expansion and renovation of its Yorkdale Shopping Centre location. Yorkdale, itself, has created a world class luxury wing, welcoming first-to-market retailers such as Bulgari, Moncler, Jimmy Choo and Versace. Moreover, Toronto's Yorkville area will soon boast Canada's only Kiton store, while pricey international brands David Yurman, Christian Dior, Bulgari and others seek space in the Bloor Street area. Saks Fifth Avenue will also open at least two Toronto stores in the next two years, contributing to an unprecedented luxury retail boom in Canada's largest city.
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