Lowe's Canada has reached an agreement to acquire the leases of 13 former Target Canada locations and to purchase Target's distribution center in Milton, Ontario, for a total purchase price of about $125 million.
Canada’s Loblaw Companies Ltd. said it will pull its Joe Fresh brand from J.C. Penney stores in the United States at the beginning of next year as it looks to concentrate on freestanding Joe Fresh stores and e-commerce.
Target Corp.’s exit from Canada is reportedly not turning out as smoothly as the retailer had hoped. According to the Toronto Globe and Mail, Target is returning 55 leases it could not find a bidder for to their landlords.
A look at brands and categories that are growingI read CSA editor-in-chief Marianne Wilson’s recent “From the Editor’s Desk” column (page 8, March 2015 issue, Chain Store Age) with great interest. Her piece — “The store is back (even though it never left)” — touched on the topic of brick-and-mortar retail expansion and “the relevance of offline retail in an omnichannel world.”The article got me thinking in more detail about the retail expansion we are seeing in 2015. What brands are growing?
Bauer Hockey: Ice hockey equipment manufacturer Bauer Hockey is throwing its puck in the retail arena. The company will open its first-ever store this summer, in Burlington, Massachusetts, followed by a second location in the fall, in the Minneapolis area.
Whether local or global, growth has been robust for 2014’s top third-party managersThe 26th annual survey of Fastest-Growing Managers surveys new domestic and international third-party management and leasing contracts obtained during the 2014 calendar year and ranks the top performers.
Watch out Teavana, Canada’s David’s Tea Inc. is looking to boost its U.S. presence. The Quebec-based chain has filed a registration with the U.S. Securities and Exchange Commission for an IPO in which it looks to raise a maximum of $75 million. The company plans to list on the Nasdaq with the ticker symbol "DTEA.”
Canada’s Future Shop will soon be a thing of the past. Best Buy announced it is consolidating its Future Shop division, and the chain’s namesake stores and Future Shop stores will all operate under the Best Buy nameplate. As part of the consolidation, 66 Future Shop stores will be closed, effective March 30. Also, 65 Future Shop locations will be shuttered for one week to transition to Best Buy.
Kleinfeld Hudson’s Bay, a luxurious 14,000-sq.-ft. bridal shop on the top floor of the Hudson’s Bay flagship and headquarters building in Toronto, took the top prize — Store of the Year — in the Association for Retail Environments 2015 Design Award.
The Pantry Inc. has announced the expiration of the waiting period under the U.S. Hart-Scott-Rondino Act for to the proposed merger between The Pantry and a U.S. subsidiary of Alimentation Couche-Tard Inc.
Canadian retail giant Hudson’s Bay Co. (HBC) has entered into two blockbuster deals, forming joint ventures with Simon Property Group and Canada’s RioCan Real Estate Investment Trust to target real estate growth opportunities in the United States and Canada. Both ventures are structured to facilitate an IPO at a later date.