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Found 31 results

  1. http://www.retail-insider.com/#retail-insider-intro https://www.facebook.com/RetailInsider https://twitter.com/RetailInsider_ RETAIL INSIDER The leader in showcasing Canadian retail news, opinions and analysis.
  2. This beautiful 1911 building has been under renovation for a year, transforming its 3 top floors into luxurious rental apartments (entrance at 1405 Bishop). The project is called "Bishop Lofts" although these seem like regular apartments. Buffalo Jeans will occupy most of the ground floor retail space, with a Mochico shoe store as neighbor.
  3. Developers & Chains ABOUT US Developers & Chains deals in business opportunities, not opportunities that you've missed out on. We specialize in futures, not histories. Developers & Chains is a subscription-only publication that focuses on retail and restaurant expansion across Canada. Developers & Chains is a subscription-only publication that concentrates on the growth and expansion aspects of the retail and restaurant industry across Canada, from British Columbia to Newfoundland. Each issue, and there are over 100 each year, includes information on new concepts and existing chains that have stated an interest in expansion and/or are showing signs of growth. And the reports include details on the companies, their needs and requirement along with the appropriate contacts. Developers & Chains issues also identify new shopping projects, malls and centres that are renovating, expanding or that simply have prime spaces that our subscribers may have available. Again, the issues include the leasing contacts, the uses they are seeking and where to contact them. There is more too. The publication keeps the subscribers aware of planned industry events and changes within the business. There are frequent reports on both retail and development sales and acquisitions, what companies are retaining which real estate-related suppliers and much, much more. Developers & Chains provides the type of leads and information that everyone in the business needs to make calculated decisions and it is all presented in a clear, factual, concise and timely manner that you can depend on. More important though, much of the leasing leads and company details are exclusive to the Developers & Chains’ E-News. They are available only in this publication. The information is exclusive in that it comes directly from our personal conversations with the principals or representatives of the featured companies. It’s almost as if you are there, sitting in on the conversation. Take a look through a recent issues of the Developers & Chains’ E-News. You will find details on new concepts seeking their first location and national chains looking for dozens of new units. You will learn, first hand, about planned entries into new markets. Whether it is a 150 square foot kiosk or a 30,000 square foot anchor tenant for your property, this is where you will meet them first. You will read about malls, centres and large format projects that have that ideal space, perfect for your next store. And you will ‘meet’ the people and companies involved. Oh yes, and the ‘editorial’ that ends every issue. Don’t take offence. It is just a tongue-in-cheek, maybe even irreverent, look at the business that we sometimes take a little too seriously. Sent from my SM-T330NU using Tapatalk
  4. Couche-Tard is a great Québec success story. Its market capitalization grew 500% in 5 years. http://montreal.ctvnews.ca/mobile/couche-tard-harnois-group-buying-esso-stations-1.2809690 CALGARY -- Imperial Oil says it has reached deals to sell its remaining 497 Esso retail stations in Canada to five fuel distributors for a total of $2.8 billion. Alimentation Couche-Tard Inc. is set to buy 279 stations in Ontario and Quebec for nearly $1.69 billion.
  5. Not a good day for retail! http://ottawacitizen.com/business/local-business/sony-announces-it-will-close-all-sony-stores-in-canada Sony Corp. will close all 14 of its Sony Stores across Canada as the company continues to struggle to reshape its business. The company made the announcement on Thursday in a memo to the employees of its stores — including its Ottawa location in the Bayshore Shopping Centre — telling them that the stores will cease operations within the next two months. The company confirmed the news in a statement released to The Citizen. “Over the next 6 to 8 weeks we are closing our Sony Stores in Canada and will redirect all of this business through our national network of Sony retailers, our online store … as well as through our Sony-trained Telesales team,” read the statement. “Our network of Sony authorized retailers offer a full range of Sony products and will be supported by our in-store Merchandisers and Product Trainers on an ongoing basis in order to ensure that our past customers have continued access to knowledgeable Sales consultants who can support their ongoing Sony electronics needs.“ The company’s news came on the same day that Target announced it would be shuttering all of its retail stores in Canada. Sony did not say how many jobs are affected by the decision. The closure comes as Sony is struggling to reshape its business amidst years of losses. For the current fiscal year which ends in March, the company is estimating a $1.9 billion (U.S.) loss. Within the last year the company sold its Vaio personal computing business and spun out its TV manufacturing operations. It is now reported to be considering exiting the TV business entirely. The company is also considering options for its lacklustre cellular phone division.
  6. Statoil Fuel & Retail sells its Schweigaardsgate 16 property in Oslo 13 February 2013 – Statoil Fuel & Retail, a wholly-owned subsidiary of Alimentation Couche-Tard Inc. (Couche-Tard), sells its property at Schweigaardsgate 16, Oslo, Norway, together with the company’s planned European headquarters, to Entra Eiendom AS. Responsibility for building the headquarters is transferred to Entra Eiendom as part of the agreement. Statoil Fuel & Retail signs a long-term lease of the premises. “We are pleased with the agreement,” says Sonja Horn, project owner, Statoil Fuel & Retail. “Entra Eiendom is a solid, professional real estate developer who will add value both to the project and the local community. We look forward to moving into a modern, environmentally-friendly and flexible building, tailored to our needs.” Statoil Fuel & Retail’s strategy is to create value through real estate asset management. It is not strategically important for the company to own its planned European headquarters and the sale releases capital to be reinvested in the company’s core business. Statoil Fuel & Retail was acquired by Canadian company Couche-Tard before the summer of 2012. The company’s European headquarters will continue to be in Oslo and the new office building at Schweigaardsgate 16 will be shared with the company’s Norwegian business unit. The project to build the planned eight-storey building has the ambition to achieve “excellent” status according to the BREEAM classification system. To maintain the best possible sunlight conditions for Teaterplassen, the neighbouring square, some of the originally-designed volume has been redistributed, making the building appear to step down towards the square. The quality of the square will be improved when the building is finished. It will become about 25 percent larger than it is today and a new passage through the building will connect Teaterplassen with the adjacent Stasjonsalmenningen. Statoil Fuel & Retail has received the required building and demolition permits from the Norwegian Planning and Building Services (Plan- og bygningsetaten). Demolition of the existing building on the property begins this week. The company plans to move into its new headquarters in the first half of 2015. Statoil Fuel & Retail sells its Schweigaardsgate 16 property in Oslo
  7. MVRDV and ADEPT win Copenhagen high-rise competition with design ‘Sky Village’ The municipality of Rødovre, an independent municipality of Copenhagen, Denmark, announced today MVRDV and co-architect ADEPT winner of the design competition of the Rødovre Skyscraper. The 116 meter tall tower accommodates apartments, a hotel, retail and offices. A public park and a plaza are also part of the privately funded scheme. The new skyscraper with a total surface of 21,688 sq m will be located at Roskildevej, a major artery East of the centre of Copenhagen. It is, after the Frøsilos, MVRDV’s second project in Copenhagen. The skyscraper is shaped to reflect Copenhagen’s historical spire and present day high-rise blending in the skyline of the city, it further combines the two distinctive typologies of Rødovre, the single family home and the skyscraper in a vertical village. Consideration of these local characteristics leads to Copenhagen’s first contemporary high-rise. Responding to unstable markets the design is based on a flexible grid, allowing alteration of the program by re-designating units. These ‘pixels’ are each 60m2 square and arranged around the central core of the building, which for flexibility consists of three bundled cores allowing separate access to the different program segments. On the lower floors the volume is slim to create space for the surrounding public plaza with retail and restaurants; the lower part of the high rise consists of offices, the middle part leans north in order to create a variety of sky gardens that are terraced along the south side. This creates a stacked neighbourhood, a Sky Village. From this south orientation the apartments are benefitting. The top of the building will be occupied by a hotel enjoying the view towards Copenhagen city centre. The constellation of the pixels allows flexibility in function; the building can be transformed by market forces, however at this moment it is foreseen to include 970 sq m retail, 15,800 sq m offices, 3,650 sq m housing and 2,000 sq m hotel and a basement of 13,600 sq m containing parking and storage. Flexibility for adaptation is one of the best sustainable characteristics of a building. Besides this the Sky Village will also integrate the latest technologies according to the progressive Danish environmental standards. Furthermore the plans include a greywater circuit, the use of 40% recycled concrete in the foundation and a variety of energy producing devices on the façade. A public park adjacent to the Sky Village is part of the project and will be refurbished with additional vegetation and the construction of a ‘superbench’, a meandering public path and bench. A playground, picnic area and exercise areas for elderly citizens are also part of the plan. Lead architect MVRDV and co-architect ADEPT Architects won the competition from BIG, Behnisch and MAD. Winy Maas and Jacob van Rijs present the plan today in Copenhagen together with Anders Lonka and Martin Krogh from local office Adept Architects, Dutch engineering firm ABT and Søren Jenssen act as consultants for the project. Earlier MVRDV realised the Frøsilos / Gemini Residence in the port of Copenhagen: a residential project marking a new way in refurbishment of old silo’s which was highly acclaimed and received international awards. http://www.worldarchitecturenews.com/index.php?fuseaction=wanappln.projectview&upload_id=10584
  8. Wanted to build a second downtown and wanted to have the metro line to go further west for this section. Proposed by Robert Campeau. Would have been known as New City Center 1.5 million sqft shopping center - total 2.2 million sqft retail space 75 floor office tower - total 5 million sqft office space 2 hotels (1750 rooms) 8000 unit condo tower
  9. Can Richard Baker reinvent The Bay? MARINA STRAUSS From Monday's Globe and Mail NEW YORK — Richard Baker, the new owner of retailer Hudson's Bay Co.,mingled with the New York fashion elite as the lights dimmed for designer Peter Som's recent show, offering opinions and taking a close look at the latest in skirts and dresses. It's a stark contrast to previous HBC owner Jerry Zucker, who HBC insiders had a hard time picturing with fashionistas in New York. But Mr. Baker, who made his name in real estate, knows it is time for a new approach at the struggling retailer. “As an entrepreneur I'm not necessarily fixated on how things were done in the past,” says Mr. Baker. “We function and we think much more like a specialty retailer rather than a department store retailer. A specialty retailer is much more nimble and willing to adjust to the environment than department stores, historically. Department stores, frankly, haven't changed a whole lot in 100 years.” His Purchase, N.Y.-based equity firm, NRDC Equity Partners, has snapped up a string of dusty retailers, among them HBC's underperforming Bay and Zellers. The Bay operates in the department store sector which is on the wane, squeezed for years by specialty and discount chains. Zellers struggles in a low-priced arena dominated by behemoth Wal-Mart Canada Corp. The need for a makeover is clear: The Bay's sales per square foot are estimated at merely $142, and Zellers', $149 – a fraction of the estimated $480 at Wal-Mart Canada. At Lord & Taylor, which also lags some of its key U.S. rivals in productivity, Mr. Baker has had some success in its efforts to return to its high end Americana roots. But the 47-store chain is feeling the pinch of tight-fisted consumers and, late last month, he unveiled a shakeup at the top ranks of his firm's $8-billion (U.S.) a year retail businesses to try to shave costs. Still, he is pouring money into the chains in other ways, quickly distinguishing himself from Mr. Zucker, who died last spring. While the former owner had named himself CEO despite his lack of merchandising experience, the new owner has handpicked a team of seasoned merchants at the senior levels of his retailers. And while Mr. Zucker shunned publicity and focused on more mundane, although critical, matters, such as technology to track customer demand, Mr. Baker enjoys the limelight. Now he is betting on the fragile fashion sector as an engine of growth. Last fall he set up Creative Design Studios (CDS) to develop designer lines for Lord & Taylor, now, HBC and, eventually, retailers around the world. Mr. Baker is “looking at every one of the properties with a different viewpoint,” says Walter Loeb, a former member of HBC's board of directors and a consultant at Loeb Associates in New York. “He has new ideas. He doesn't want to keep Hudson's Bay in its present form.” Nevertheless, “this team has taken over a not particularly healthy business,” says Marvin Traub, a former executive at Bloomingdale's who runs consultancy Marvin Traub Associates in New York. “They know and understand the challenges. It will take some time to fix them.” What Mr. Baker looks for in retailers is faded brands that have the potential to be revived. Early this year, NRDC acquired Fortunoff, an insolvent jewellery and home décor chain. The synergies among NRDC's various retailers are tremendous, says Gilbert Harrison, chairman of New York investment bank Financo Inc., which advises Mr. Baker. So is the value of the real estate. At HBC, it is estimated to be worth $1.2-billion, according to industry insiders. That's just a little more than the equivalent purchase price of the retailer itself. Lord & Taylor's real estate was valued at $1.7-billion (U.S.) when Mr. Baker acquired the company in 2006 – about $500-million more than he bought it for. “Initially I thought, good luck,” says Mr. Gilbert. “He's bought this in one of the most difficult retail environments that we've seen for 20 or 30 years. … “But he's protected his downside because the basic real estate values of Lord & Taylor and, now Hudson's Bay, certainly help prevent tragedy.” Mr. Baker likes to tell the story of buying Lord & Taylor for its real estate, and then on the way to signing the deal noticed how well the stores were performing. Like most other U.S. retailers, Lord & Taylor has seen business slow down recently. But its transformation to appeal to the well heeled had begun even before Mr. Baker arrived. It had dropped an array of tired brands, such as Tommy Hilfiger and Nautica, and picked up trendier labels, among them Coach and Tracy Reese. Mr. Baker encouraged the strategy of expanding and upgrading higher margin designer handbags and footwear. Ditto for denim wear and funky styles in the women's “contemporary” section under hot labels such as Free People and Diesel. “My job is to understand that we need to get the best brands in the store.” But he also saw the opportunity to bolster margins by stocking affordable lines in the form of CDS brands, with a focus now on Black Brown 1826 men's wear line. “I thought there was a void in the market for exactly the kind of clothes that my friends and I wear, at a right price. Why should we pay $150 for a dress shirt?” he asks, holding up one for $69. Now Mr. Baker wants to borrow a leaf from the Lord & Taylor playbook for HBC. He wants to introduce better quality products with higher margins, and plans to add his design studio merchandise to the stores early next year. Besides the details, he sees a whole new concept for the big Bay department stores. It would entail shrinking the Bay, possibly introducing Lord & Taylor within the stores, and adding Zellers in the basement and Fortunoff jewellery departments upstairs, with office space at the top. Lord & Taylor would serve to fill a gap in the retail landscape between the Bay and carriage trade Holt Renfrew, he says. For discounter Zellers, he seems to take inspiration from Target Corp., the fashionable U.S. discounter, by putting more focus on branded apparel. But he's not averse to selling parts of the business, or real estate, if the right offer came along either. “We're always available to sell things at the right price, or buy things at the right price.”
  10. St. Catherine Street: the changing of the guard Remember that little boutique where you bought the leather jacket 15 years ago? It’s gone. If you have not visited St.Catherine Street in Montreal since the early 1990s, you would not recognize it. Of the stores that were located in the prime area between Bishop and University, not more than fi ve are still in existence. The locallyowned stores are gone, replaced at first by national retail chains, which in turn are giving way to international chains. Storefront retail throughout North America has been in decline for many years. St. Catherine Street is the exception. Rental rates have quadrupled. Vacancies are nonexistent. It is not just any street. Fifteen kilometres long, St. Catherine comprises 1,200 stores, making it the largest concentration of retail outlets in Canada. The street is witness to 3,500 pedestrians per hour, 250,000 offi ce workers at lunchtime, and 100,000 students per day, keeping the street alive at all hours. Furthermore, eight subway stations, 30 kilometres of underground walkways with 178 entrances, and 2,000 underground stores totalling 36 million square feet (sq. ft.) of floor space are used by 500,000 people on a daily basis. In street front retail, if you don’t have a store on St. Catherine Street, you have not made it. There are two strategies for retail chains entering Quebec: 1) open a fl agship store on St. Catherine Street; or 2) open four or five stores in major malls around Montreal, and a flagship store on St. Catherine Street. At the corner of Peel and St. Catherine, three of the four corner stores have changed in the past year. The newcomers are H&M (Hennes & Mauritz of Sweden) with 20,000 sq. ft; Guess with 13,000 sq. ft; and American Eagle, with 17,000 sq. ft and Apple Store. In the last five years, more than 20 flagship stores have opened here, mostly multinationals, such as: Lululemon, Oakley, American Eagle, Esprit, Garage, Guess, Khiels, Geox, GNC, Ecco Shoes, H&M, Mango, French Connection, Quicksilver, Marciano and Adidas. The shortage of space forces stores to take minimal frontage on the ground floor, and more space on the second and third fl oors. Ground fl oor space that leased in the early 1990s for $50 net per sq. ft. (psf ), with the landlord offering $25 per sq. ft. for leasehold improvements, now leases for $200 net psf and up, plus $30 psf for operating costs and taxes. And some of the stores spend $5 million renovating the space. But as they say in Rolls Royce dealerships, if you have to ask the price, you can’t afford it. Some of these stores are not making money, but they are here for image and marketing purposes. All the other banners are here, so they have to be here too. Whereas the mixture of stores constantly evolves, most of the landlords have been here for 30 or 40 years. They have seen the market go up and down. In this market, they will turn down all but the best. For one vacancy last year, there were four multinational chains trying to outbid each other for the space. http://www.avisonyoung.com/library/pdf/National/Fall-Winter_2008_AY_National_Newsletter.pdf
  11. 539 Sainte-Catherine Street Montreal, QC This building is situated at the northeast corner of Sainte-Catherine and Aylmer, across the street from The Bay's 640,000 sq. ft. main store. The property can accommodate a tenant of up to 5,000 sq. ft. on the ground floor, with potential for a mezzanine if required. The 40 foot facade on Sainte-Catherine Street, ceiling heights above 14 ft., excellent visibility, and the presence of many national retailers in the immediate vicinity create an ideal location for a flagship retail store in downtown Montreal. The building is undergoing a retrofit with completion expected in spring, 2012. http://www.canderel.com/news-communication/539-sainte-catherine-street
  12. Microsoft to Open Stores, Hires Retail Hand By NICK WINGFIELD Microsoft Corp. said it hired a former Wal-Mart Stores Inc. executive to help the company open its own retail stores, a strategy shift that borrows from the playbook of rival Apple Inc. The Redmond, Wash., company said it hired David Porter, most recently the head of world-wide product distribution at DreamWorks Animation SKG, as corporate vice president of retail stores for Microsoft. In a statement, Microsoft said the first priority of Mr. Porter, who is also a 25-year veteran of Wal-Mart, will be to define where to place the Microsoft stores and when to open them. A Microsoft spokesman said the company's current plans are for a "small number" of stores. [microsoft store and retail concept] Microsoft In a warehouse near its Redmond, Wash., campus, Microsoft created mockups for how Microsoft products might be displayed either in its own stores or in a retailer's. [microsoft store or retail concept] Microsoft It remains to be seen whether the effort can add some pizzazz to Microsoft's unfashionable image, which Apple has sought to reinforce with ads that mock its competitor. Mr. Porter, in a statement, said there are "tremendous opportunities" for Microsoft to create a "world-class shopping experience" for the company's customers. "The purpose of opening these stores is to create deeper engagement with consumers and continue to learn firsthand about what they want and how they buy," Microsoft said in a statement. The move is a sign of the deeper role consumer-technology companies are playing in the retail business, despite the many risks of straying from their traditional businesses of making hardware and software. Apple, of Cupertino, Calif., encountered widespread skepticism when it first began opening its own retail stores in 2001. Eight years later, though, Apple's chain of more than 200 stores around the world are widely credited with helping the company boost sales of its Mac, iPod and iPhone product lines. The Apple stores, with their eye-catching architecture, highly-trained sales staff and "genius bars" that provide technical support, gave Apple a way to showcase its products in an environment where they weren't lumped in with a gamut of other electronics items. Sony Corp. and Bose Corp. also operate their own stores. At the same time, some large electronics retailers have fallen on hard times amidst the weakening economy. CompUSA Inc. last year closed most of its retail stores, while Circuit City Stores Inc. is in the process of shutting down all of its stores and laying off more than 30,000 employees. Microsoft has long flirted with the idea of doing its own store, even as it has tested ways that retail partners can better sell Microsoft products. In a 20,000-square-foot warehouse near its campus in the suburbs of Seattle, Microsoft has tested various retail concepts, complete with shelves displaying Xbox games and big computer monitors with touch-sensitive screens. Key details about Microsoft's retail plans still need to be worked out, though. Microsoft said the stores could feature a range of products from personal computers running its Windows operating system to cellphones running the company's Windows Mobile operating system to its Xbox videogame console. One of Mr. Porter's tasks will be to figure out whether to actually sell computers rather than merely show off their features. Any decision that favored some PC makers and left others off store shelves could anger some hardware partners. Stephen Baker, an analyst at NPD Group Inc., which tracks retailers, said Apple doesn't face the dilemmas Microsoft will in the retail business because Apple makes the hardware and software for its products. "That's going to be a big challenge for Microsoft," Mr. Baker said. A spokeswoman for Hewlett-Packard Co., one of Microsoft's biggest hardware partners in the PC business, declined to comment on Microsoft's retail strategy. Spokesmen for Dell Inc. didn't respond to requests for comment. Microsoft's store plans could also irk existing retail partners like Best Buy Co., on whom Microsoft is especially dependent for sales to consumers. Best Buy representatives didn't return calls requesting comment. Microsoft said it will share the lessons it learns from its own stores with other retailers. The failures of other stores opened by technology companies will loom over Microsoft as it launches its stores. In 2004, computer maker Gateway Inc. shuttered a network of more than 188 company-owned retail stores after weak sales. Microsoft itself operated a Microsoft store inside a movie-theater complex in San Francisco beginning in 1999, but two years later shut down the store -- which showcased, but didn't sell, Microsoft products.
  13. Toronto : The downside of up TENILLE BONOGUORE Globe and mail Old Toronto is booming, thanks to a flood of new condo dwellers. So why are prime retail strips awash in 'for lease' signs? Tenille Bonoguore recently counted 54 empty storefronts on one stretch of Queen alone. With rents soaring, is it only cashed-up chains that can survive? The garlands were up, the Christmas songs were playing, but inside the Danforth Avenue store Paper and Presents, the mood was anything but merry. It was December, 2007, and instead of spreading good cheer, customers were hurling abuse about cross-border price discrepancies. Store owner Grace Wong was facing her second year without drawing a paycheque, and she was fed up with skyrocketing business costs. After 15 years as an independent retailer, she finally realized that it was time to go. "The Danforth has really changed. It's not as vibrant," Ms. Wong said this week from the store that will close this summer. "Stores are flipping, and nobody wants to take a chance. I wouldn't choose a place where stores keep flipping over. ... That's not a good sign." Like many tenant retailers, Ms. Wong pays both rent and part of the property taxes. The combination had reached $5,500 a month for her 800-square-foot storefront, a hike of 40 per cent in five years. Meanwhile, insurance had risen to $1,800 a year, up 50 per cent in 10 years, and other costs were soaring. She was caught in the unprecedented blaze of interest in downtown retailing that is reshaping Toronto's shopping strips, and threatens to turn the city into a whitewash of chain stores. Ms. Wong's is one of seven stores that have closed, or are preparing to close, this year in the Danforth Business Improvement Area. Thirty shut up shop last year, 10 of which had been open for less than two years. The empty storefronts don't reflect a lack of demand - just the opposite. Demand for downtown retail on hot strips like Queen Street, Bloor Street, Yonge at Dundas, and now Yonge at College, has driven up rents, speeding up turnover and forcing out the independent shops that made the strips vibrant in the first place. "A lot of landlords are making the rent so high because they're hoping for a Starbucks or a major chain to come in. They're waiting for the big guys," said Ms. Wong, who is opening an online Japanese paper store. Or storefronts turn into what Charlie Huisken, of This Ain't the Rosedale Library, calls "retail hotels" - a building that hosts a continuing rotation of short-lived ventures. "I don't know if that's a problem of [the retailers] lacking capital, or whether it's because the rents are too high. It might be a combination of the two. They pop up and just disappear," said Mr. Huisken, who recently moved his bookstore from Church and Wellesley to Kensington Market, partly because of escalating rent. Mr. Huisken believes that independent business can survive in the city centre only if retailers are given a mandatory option to buy property. Others wonder if the independents can survive at all. BIG BOX, BRAND OR BUST All of the factors that appear to help business - an influx of residents, increasing demand for downtown property - are sending independents running for shelter. John Crombie, senior managing director and national retail director for Cushman & Wakefield LePage, said he has never seen such demand for downtown retail space. Yorkville now commands rents of $300 per square foot, making it the third-priciest retail space in North America. Storefronts at Queen West and Spadina now cost $125 to $150 a square foot, and a ripple effect is washing across the city. The hot residential market of the past few years has had an impact too: Mushrooming condo developments seem poised to produce ready-made customer bases, which landlords can use as a basis for rent hikes. The condos can increase competition too, because of the retail spaces included in such developments. Meanwhile, Toronto businesses are paying some of the highest property-tax rates in North America, and subsidizing relatively lightly taxed residents. The City of Toronto has pledged to even that out over the next 15 years by shifting more of the tax burden from businesses to homeowners. But that could prove little comfort when new property valuations are issued this fall for the 2009 tax year, says the Canadian Federation of Independent Business's Ontario vice-president, Judith Andrew. "If there are really trendy spots that are seeing values go way up ... their share of the total assessment pie goes up and their share of the tax bill goes up too. That's bad news for retailers, even if they're renting," Ms. Andrew said. As independents are being priced out of hot neighbourhoods, cashed-up chains and luxury or trendy brands are moving in, Mr. Crombie said. "There's no question that there's a [residential] filling-in, and they're saying it's more of an affluent consumer coming down," he said. That's an irresistible prospect for big-brand players Queen Street West is a perfect example of the cycle. The city's best-known shopping strip is full of chains, such as Gap, H&M, Zara, Billabong and HMV, that use cheaper, globally homogeneous product to nab the city's disposable income. Brand flagships are getting in on the action too, with Mexx opening its own storefront and Crocs about to do the same. As they move in, the displaced stores seek cheaper locations. Historically, that has meant moving farther west. Now, Queen Street is threatening to run out of western succour. Just look to Parkdale's speedy transformation from blighted hovel to boho-chic haven. "I think there's a frustration for the smaller ma-and-pa regional players, but what can you do? It's really only following consumer behaviour," Mr. Crombie said. "... I've never seen such an interest in downtown street properties." At the start of last year, the Greater Toronto Area had almost 185 million square feet of retail real estate, more than two-thirds of which was in shopping centres and big-box stores. Until now, suburban malls held the most appeal to retailers. But that changed for Toronto in 2007, according to Cushman & Wakefield LePage's annual report. Vacancies on retail strips dipped to 8.4 per cent in 2007, down from 8.5 per cent the previous year and 9.7 per cent five years previous. Meanwhile, vacancies in shopping centres rose to 7.4 per cent, up from 6.7 per cent in 2006. Danforth BIA president Glyn Laverick said it's essential that small businesses be given a helping hand if they are to survive. "There's not an awful lot of support from an institutional or governmental level for small business. There's really not a plethora of grants available if you're not opening a manufacturing company," Mr. Laverick said. One hopeful note is that there are still plenty of people bellying up for the challenge. While the Danforth BIA has lost 37 businesses since January, 2007, 29 others have opened up. NICHE IS THE WORD Studio Brillantine owner Ferdinand Suzara spent last Christmas doing a bit of shopping of his own. Eleven years after establishing the retail beachhead on West Queen West, the design boutique owner was on the hunt for a new 'hood. Not that there was anything wrong with his spot just west of Ossington: He had hoped to buy the building from his landlord, as they had discussed, but his landlord was in no rush to sell. And who could blame him? That part of town will soon welcome hundreds of new residents as part of the City of Toronto's Queen West Triangle densification plan. Mr. Suzara started looking elsewhere, snapping up a more affordable building in Parkdale instead. Studio Brillantine and its inventory of leading-edge design products had opened long before Ossington's hipster influx. So the posters announcing the move shocked the neighbourhood. "Our whole block is up for sale. It's just in the air for this block," Mr. Suzara said as he started preparing for the August move. The south-Roncesvalles area his store is moving to still holds the edgy appeal of Queen West's earlier days, he said, but the clock is ticking. By his reckoning, the chain stores will start arriving in five or 10 years. As the cycle gains speed, independents scramble to seek out the last shrinking oases of affordability. The Danforth's Carrot Common is one such hub. Roncesvalles Avenue where it meets Queen West is quickly becoming another. Shannon Doyle moved her gourmet nook The Mercantile to "Roncy" in May, despite having a legion of loyal customers on College Street. But the rental of her tiny College storefront was about to jump 45 per cent, by her calculations (a figure with which her landlord disagrees), and there was no way she could keep up. Plus, the College strip she had entered in 1999 had disappeared in a slew of bars. It was time to go. "You're really watching businesses move or close," said the diminutive Ms. Doyle, now happily serving her new regulars. " ... They're just flipping every year. You want to say to a landlord, 'Why not just have a good tenant and work with them?' "It has to stop eventually, or everything's a Gap." Space: the final frontier Source: Cushman & Wakefield LePage Toronto Retail Strips: Average Overall Vacancy 2002 - 9.7% 2006 - 8.5% 2007- 8.4% Retail Strip Examples: Vacancy Over 5 Years Yorkville 2002 - 10% 2007 - 7.7% Chinatown 2002 - 8.6% 2007 - 8.2% Pape & Danforth 2002 - 15% 2007 - 9% Yonge & Wellesley 2002 - 8.3% 2007 - 9.1% Dundas & Dufferin 2002 - 13.7% 2007 - 12.9% Source: Cushman and Wakefield LePage
  14. Ça donne le goût de voir un projet similaire ici à Montréal. Markthal Rotterdam, the covered food market and housing development shaped like a giant arch by Dutch architects MVRDV, has officially opened today after five years of construction (+ slideshow). The Netherlands' first covered market is located in Rotterdam's city centre and has space for 96 fresh produce stalls and 20 hospitality and retail units on the lower two floors... dezeen.com
  15. plannersweb.com/2014/02/walmart-stores-go-small-urban/ <header style="color: rgb(51, 51, 51); font-family: 'Minion W01 Regular', Times, serif; font-size: 15px; line-height: 21px;"> Taking a Closer Look Walmart Stores Go Small and Urban by Edward McMahon </header>Can big box retailers think outside the box? A few years ago the idea of a pedestrian friendly big box store would have been laughable, but as urban living has become more popular the major chain retailers are paying attention and beginning to build urban format stores. On December 4, 2013 Walmart opened its first two stores in Washington, DC and the new stores illustrate the lengths to which brick and mortar retailers will go to get into rapidly growing urban markets. Compared to the old “grey-blue battleship box” that has saturated suburban and small town America, the new urban Walmart on H Street, NW in Washington is a remarkable departure. <figure id="attachment_13030" class="thumbnail wp-caption aligncenter" style="padding: 0px; line-height: 20px; border: none; border-top-left-radius: 0px; border-top-right-radius: 0px; border-bottom-right-radius: 0px; border-bottom-left-radius: 0px; -webkit-box-shadow: none; box-shadow: none; -webkit-transition: all 0.2s ease-in-out; transition: all 0.2s ease-in-out; margin: 0px auto; width: 520px;"><figcaption class="caption wp-caption-text" style="font-style: italic; font-size: 14px; padding: 9px; color: rgb(85, 85, 85);">View of Walmart on H Street, NW in Washington, DC. Photo by Edward McMahon.</figcaption></figure> Whether you love them or loathe them, this building proves that Walmart — one of the most recognizable symbols of modern suburbia — is going urban. Who ever thought that Walmart shoppers could sleep upstairs and shop downstairs, but that is exactly what residents of the new Walmart near downtown Washington will be able to do. The 83,000 square ft. store built in partnership with JBG Rosenfeld is in a mixed use building topped by four stories of apartments. Instead of acres of asphalt, the parking is underground. In addition to the Walmart, there is another 10,000 square ft. of retail space wrapped around the outside of the retail giant. Retail tenants currently include a Starbucks and a bank, with more to follow. The residential portion of the building contains 303 apartments, a fitness center, a lounge area, a roof deck, and a swimming pool. <figure id="attachment_13034" class="thumbnail wp-caption aligncenter" style="padding: 0px; line-height: 20px; border: none; border-top-left-radius: 0px; border-top-right-radius: 0px; border-bottom-right-radius: 0px; border-bottom-left-radius: 0px; -webkit-box-shadow: none; box-shadow: none; -webkit-transition: all 0.2s ease-in-out; transition: all 0.2s ease-in-out; margin: 0px auto; width: 520px;"><figcaption class="caption wp-caption-text" style="font-style: italic; font-size: 14px; padding: 9px; color: rgb(85, 85, 85);">View of roof deck and pool on top of the H Street Walmart in Washington, DC. Photo courtesy of JBG Companies.</figcaption></figure>The main store entrance sits right on the sidewalk and shoppers will use an escalator to reach the store level. The store itself offers more groceries than a typical Walmart and the shopping floor is day lighted by real windows. Designed by MV+A Architects and the Preston Partnership, the H Street Walmart is a handsome urban building with traditional human scale details. It includes cornices, individual multi-pane windows, an interesting corner feature at the main entrance, and a separate entrance for residents. It is a fully urban, pedestrian friendly building. Whether you love them or loathe them, this building proves that Walmart — one of the most recognizable symbols of modern suburbia — is going urban. While the H Street store is by far the better of the two new urban Walmart’s in Washington, the other new store on Georgia Avenue, NW is also a significant departure from the typical suburban store design. Built on the site of an abandoned car dealership, the Georgia Avenue Walmart is a 102,000 square foot store on a four acre site. <figure id="attachment_13036" class="thumbnail wp-caption aligncenter" style="padding: 0px; line-height: 20px; border: none; border-top-left-radius: 0px; border-top-right-radius: 0px; border-bottom-right-radius: 0px; border-bottom-left-radius: 0px; -webkit-box-shadow: none; box-shadow: none; -webkit-transition: all 0.2s ease-in-out; transition: all 0.2s ease-in-out; margin: 0px auto; width: 520px;"><figcaption class="caption wp-caption-text" style="font-style: italic; font-size: 14px; padding: 9px; color: rgb(85, 85, 85);">View of the new Walmart on Georgia Avenue in Washington, DC. Photo by Edward McMahon.</figcaption></figure>Given the small size of the property, the only way to build a large store was to eliminate surface parking and bring the store right up to the sidewalk. The parking is located in a garage located directly below the store. While the building is not mixed use, it does greet the street and represent a real evolution for Walmart. The lesson here is that cities that want good design are going to have to demand it. In addition to the two stores that opened in December, 2013, Walmart has announced plans for four additional stores in Washington. Based on a review of their plans, some will be walkable, urban format stores, others will not. Dan Malouff, a design critic with the Greater Greater Washington blog, says that one will be unquestionably urban, one will be a hybrid, and two will be almost completely suburban. 1 The lesson here is that cities that want good design are going to have to demand it. <figure id="attachment_13042" class="thumbnail wp-caption aligncenter" style="padding: 0px; line-height: 20px; border: none; border-top-left-radius: 0px; border-top-right-radius: 0px; border-bottom-right-radius: 0px; border-bottom-left-radius: 0px; -webkit-box-shadow: none; box-shadow: none; -webkit-transition: all 0.2s ease-in-out; transition: all 0.2s ease-in-out; margin: 0px auto; width: 520px;"><figcaption class="caption wp-caption-text" style="font-style: italic; font-size: 14px; padding: 9px; color: rgb(85, 85, 85);">Design rendering of Walmart now under construction in Washington’s Fort Totten neighborhood. Graphic courtesy of JBG Companies.</figcaption></figure>Building an Urban Format Store Can Walmart build an urban format store? The answer appears to be yes, but it also appears that the only thing standard in an urban format big box store is its lack of standardization. Building suburban big box stores is simple. Buy a 20 acre suburban greenfield site. Build a large, free standing rectangular single floor building on a concrete slab. Plop the building in a sea of parking. A Walmart Supercenter in the suburbs of Atlanta, for example, is essentially identical to one in the suburbs of Chicago or Cincinnati. This model simply won’t work in a dense urban area. The two things that have kept Walmart out of cities were its inflexibility on design issues and opposition from labor unions and civic activists who oppose the company because of its low wages and negative impact on existing local businesses. Now that it appears that Walmart is willing (when pushed by local government) to adapt its stores to the urban environment, it is likely only a matter of time before the retail giant moves into cities all over the country. <figure id="attachment_13043" class="thumbnail wp-caption alignleft" style="padding: 0px; line-height: 20px; border: none; border-top-left-radius: 0px; border-top-right-radius: 0px; border-bottom-right-radius: 0px; border-bottom-left-radius: 0px; -webkit-box-shadow: none; box-shadow: none; -webkit-transition: all 0.2s ease-in-out; transition: all 0.2s ease-in-out; float: left; margin: 0px 10px 10px 0px; width: 320px;"><figcaption class="caption wp-caption-text" style="font-style: italic; font-size: 14px; padding: 9px; color: rgb(85, 85, 85);">Walmart Neighborhood Market in Chicago’s Loop. photo by Eric Allix Rogers, Flickr Creative Commons license.</figcaption></figure>Big Boxes are Getting Smaller Another thing that is clear is that big boxes are getting smaller. The new 80,000 square ft. Walmart in Washington is half the size of many suburban Supercenters. What’s more, Walmart is creating new formats uniquely designed for cities. The new Walmart Neighborhood Market, for example, is only 40,000 square feet while the so-called Walmart Express stores are only 15,000 square feet. Walmart has even opened two college stores, at Georgia Tech in Atlanta 2 and at the University of Arkansas in Fayetteville. 3 Each of these stores is less than 5000 square feet in size. [TABLE=class: tg, width: 475] <tbody>[TR] [TH=class: tg-acmm, bgcolor: #F1C40F]Store Type[/TH] [TH=class: tg-acmm, bgcolor: #F1C40F]Square Footage[/TH] [TH=class: tg-acmm, bgcolor: #F1C40F]Date Initiated[/TH] [/TR] [TR] [TD=class: tg-031e]Discount Store[/TD] [TD=class: tg-031e]106,000 sq. ft.[/TD] [TD=class: tg-031e]1962[/TD] [/TR] [TR] [TD=class: tg-031e]Supercenter[/TD] [TD=class: tg-031e]182,000 sq. ft.[/TD] [TD=class: tg-031e]1982[/TD] [/TR] [TR] [TD=class: tg-031e]Neighborhood Market[/TD] [TD=class: tg-031e]38,000 sq. ft.[/TD] [TD=class: tg-031e]1998[/TD] [/TR] [TR] [TD=class: tg-031e]Express Store[/TD] [TD=class: tg-031e]15,000 sq. ft.[/TD] [TD=class: tg-031e]2011[/TD] [/TR] [TR] [TD=class: tg-031e]College Store[/TD] [TD=class: tg-031e]Under 5,000 sq. ft.[/TD] [TD=class: tg-031e]2013[/TD] [/TR] </tbody>[/TABLE] Times have changed. The country’s largest retailers have oversaturated rural and suburban communities. The only place left with more spending power than stores is in our cities. Walmart has made its urban debut. The outstanding question remaining is: what impact will Walmart have on local economies and wages? Washington, DC, City Councilman Phil Mendelson, a co-sponsor of unsuccessful legislation that would have required big box retailers to pay a living wage and benefits, expressed skepticism about the impact of Walmart on the local economy. “I would say, having the world’s largest retailer interested in locating in the city where we’ve lost almost every other department store over the last four decades — that’s a good thing. Having an economic competitor who underprices the market and causes a descent to the bottom, in terms of wages — that is not a good thing.”4 While Walmart is clearly evolving to fit into cities, there is also evidence that the retail giant is willing to break the mold in smaller towns and suburbs. What About Smaller Towns & Suburbs? While Walmart is clearly evolving to fit into cities, there is also evidence that the retail giant is willing to break the mold in smaller towns and suburbs. This is because retail store size is shrinking due to the growth of internet shopping and also because suburbs are changing to stay competitive. Target, Whole Foods, Safeway, Giant, and other chains are already breaking the rules by building smaller footprint stores in multi-story buildings and mixed use developments. Walmart has recently opened several small town stores with parking under the building or with solar installations on the roof. What impact Walmart and other big box retailers will have on cities and the neighborhoods where they locate remains to be seen. Harriet Tregoning, the planning Director in Washington, DC, says that “Walmart does not offer any meaningful shopping experience. It competes solely on price and convenience.” 5Her message to small businesses is that “if you are in direct competition with Walmart you are in the wrong business to begin with.” Instead she says “businesses that offer something Walmart can’t like bars, restaurants and stores selling specialty goods or offering personalized levels of service — will continue to thrive.” In some ways, the idea of national chains opening big new urban stores is a return to the way things once were. In 1960, we called it department store. Today we call it a Walmart. Ed McMahon is one of the country’s most incisive analysts of planning and land use issues and trends. He holds the Charles Fraser Chair on Sustainable Development and is a Senior Resident Fellow at the Urban Land Institute in Washington, DC. McMahon is a frequent speaker at conferences on planning and land development. Over the past 21 years, we’ve been pleased to have published more than two dozen articles by McMahon in the Planning Commissioners Journal, and now on PlannersWeb.com. Notes: Dan Maloutt, “Walmart’s 6 DC stores: Some will be urban, some won’t” (Greater Greater Washington blog, April 26, 2012) ↩ Allison Brooks, “The world’s tiniest Walmart opens in Atlanta” (Atlanta Magazine, Aug. 14, 2013 ↩ Todd Gill, “Now open: Walmart on Campus” (Fayetteville Flyer, Jan. 14, 2011).↩ Ryan Holeywell, “Walmart Makes Its Urban Debut” (Governing Magazine, June 2012) ↩ Id. ↩
  16. Canada may be a hotspot for retail expansion, but lease costs in the country’s fanciest downtown shopping districts are still a relative bargain compared to other global centres. Toronto’s Bloor Street area was the priciest in Canada at $291.66 (U.S.) a square foot, according to Colliers International. Toronto is the only Canadian city to make the Top 50 in the report, coming in as the world’s 37th most expensive retail leasing market. The most expensive space in the world can be found on Fifth Avenue in New York, where lease costs are $2,150 a square foot – gaining 70 per cent over last year. The top five is rounded out by Hong Kong’s Russell Street ($1,510, up 25 per cent), Paris’s Avenue des Champs-Elysees ($1,310, unchanged), London’s Old Bond Street ($962, unchanged) and Zurich’s Bahnhofstrasse ($955, up 14.2 per cent). Ste-Catherine Street West in Montreal was the second most expensive Canadian location, at $204.15, a drop of 4.5 per cent. Saskatoon saw the biggest jump in Canadian lease rates, with Broadway Avenue gaining 25 per cent to $34.03. Other Canadian sites included: Calgary’s Uptown 17th Avenue at $53.47 (down 26 per cent), Downtown Edmonton at $43.75 (unchanged), Halifax’s Sprig Garden Road at $48.61 (unchanged), Ottawa’s Byward Market at $38.89 (down 20 per cent), Vancouver’s Robson Street at $194.44 (unchanged) and Victoria’s Government Street at $53.47 (unchanged). “After two successive years of lackluster growth, the world’s top retail streets once again regained their vitality, as reflected by a general rise in rents in many of the world’s premier shopping districts,” the report states. “As the lingering effects of the global downturn faded during the latter half of 2010, rising demand for the world’s most prime retail real estate was evident in many countries as many new retailers sought to establish a foothold in the world’s most prestigious avenues.” http://www.theglobeandmail.com/report-on-business/canadas-retail-space-still-a-deal-report/article2050037/
  17. I thought this was interesting: http://realestate.yahoo.com/promo/ikea-is-assembling-its-own-london-neighborhood.html IKEA is Assembling its Own London Neighborhood IKEA is going into the business of selling walls, floors and roofs, in addition to furniture, housewares and rugs. Inter IKEA Holding Services, the intellectual property owners of the home-goods retail monolith, recently announced plans to build an entire neighborhood in Stratford, East London, just south of the Olympic Park, where the 2012 Olympics will take place. The new district, Strand East, will include 1,200 homes, of which about 40 percent will have three or more bedrooms. Strand East will also have a 350-room Courtyard by Marriott hotel, 480,000 square feet of offices, shops, cafes, restaurants, a school, a nursery, and a health-care facility, allowing residents to accomplish daily errands and needs without having to drive. The 26-acre neighborhood-in-progress is being designed to include car-free pedestrian zones, courtyards and landscaped grounds, while the planned underground parking means vehicles will be stowed tidily out of sight. The parcel is bordered on two of three sides by waterways, so the community might take on a Venice-like feel, with a water taxi service, a floating cocktail bar, and moorings that will be available for residents’ use Strand East will be constructed by Landprop, a unit of Inter IKEA. Harald Müller, the managing director for LandProp and the business development manager for Inter IKEA, emphasizes that while IKEA values such as family safety and smart design will be represented, this project is completely separate from the retail branch — so don't expect the apartments to come fully furnished with IKEA catalog items. Müller isn't saying exactly how much the land cost, but the amount was higher than the speculated £25 million (about $39 million) cited in The Daily Mail. It was obtained at "a very interesting low price, but not this price," he said. Of the total land buy, Müller says that two big parcels were foreclosures. One foreclosure was bought from a bank, and the other was from the Olympic Legacy Company. Inter IKEA had the advantage of making an equity-financed purchase, which has allowed it to create similar developments in Poland, the Baltics and Romania. Demolition has begun in what was once an abandoned industrial area of Stratford, dating from the 15th or 16th century. Gin was distilled in the area during the last century until the war, but in the intervening time it became "completely empty and rubbish and ugly," says Müller. Although some planning approvals are pending, construction is planned to begin in 2013 — after the Olympics — and is expected to take about five years. However, one section, Dane’s Yard (pictured at top) has been approved. It will feature a 40-meter-high (131-foot) illuminated sculpture in its public square, and a Grayson’s restaurant that will focus on ethically and locally sourced foods. It will also retain renovated versions of some of the historic buildings. "We will turn it around for sure," says Müller. "Not being arrogant, but for sure it will be a new hotspot in London."
  18. Three projects revealed as Amanda Levete Architects rises 2009 presents a challenge to all architecture practices, big and small. But to Amanda Levete the challenge presents a steeper climb than most. Having agreed in 2007 to separate business activities with her ex husband and business partner, the late Jan Kaplicky, Levete embarked upon the creation of an entirely new firm, leaving the Future Systems name to Kaplicky, who sadly passed away in January. With all eyes now on Levete, she has remained committed to works from the Future Systems portfolio such as the City Academy in London and Naples Subway, which are currently under construction. But now, Amanda Levete Architects has released details of the firm’s first three projects to be designed independently of Future Systems, launching the new firm at an international level and leaving voyeurs in eager anticipation of her creations. In London, Levete’s campus design for News International’s new headquarters will facilitate the media giant collective of international firms including 20th Century Fox, News of the World and MySpace. A second London project of lesser significance is Huntington on the banks of the Thames. But the signature project that could re-affirm Levete, commonly regarded as one of the parents of ‘blob’ architecture, as a heavy-weight in the architecture community, is the Central Embassy in Thailand. A major retail and hotel complex in central Bangkok’s primary commercial artery Ploen Chit Road, Central Embassy will be a new age architectural landmark for the city which has thusfar avoided the blatancy of contemporary architecture. The 1.5 million sq ft project will occupy the former gardens of the British Embassy in Nai Lert Park, and will consist of a 7-storey retail podium and a 30-storey 6-star hotel tower. “Central Embassy will be the first contemporary landmark building in Bangkok. It is demonstrably of its time but rooted in Thai heritage and culture. Our architectural ambition is matched by the ambition of Central to create the best and most exciting retail and hotel destination in Thailand,” said Levete. At first look, it is difficult to see where these roots take hold. But, as Project Director Alvin Huang explains, the design’s intricacies are wear the heritage is threaded. “Our design for this project has been underpinned by two strands of parallel research. “We carried out extensive studies in Thailand exploring and documenting traditional patterns, materials and fabrication methods. In tandem, we’ve experimented with the application of advanced digital design techniques such as scripting and parametric modelling as a means of abstracting our hands-on research to create an innovative synthesis of technology and heritage that is specific to the context of Bangkok.” And so Levete’s renowned attention to detail is married with the Thai’s own propensity for the same to create a very modern interpretation of Bangkok culture. Set to commence construction next year and complete in 2013, Central Embassy will provide a benchmark for the future success of Levete's solo ambitions. Niki May Young News Editor Key Facts Status Design Value 0(m€) Amanda Levete Architects http://www.amandalevetearchitects.com http://www.worldarchitecturenews.com/index.php?fuseaction=wanappln.projectview&upload_id=11351
  19. Google Pairs With Sony, Best Buy, DISH On TV Aaron Baar, May 20, 2010 01:58 PM First, the Web. Then the phones. Now Google wants to change the way people watch television. At a developer's conference on Thursday, Google announced it would develop an open platform to bring the World Wide Web to the television, and it has enlisted partners such as Intel, Sony, Logitech, Best Buy, DISH Network and Adobe to help. The new product, Google TV, is based on the company's Android mobile platform and runs the company's Chrome browser. IT will allow users to access traditional TV channels as well as Internet content, including Adobe Flash video. Both Logitech and Sony have committed to creating products using Intel's Atom processor and the Google TV platform later this year, to be sold through Best Buy locations. Though the product can be used with any TV operator, Google said the experience will be "fully optimized when paired with DISH Network" at the product's launch. "We are very proud to be working with this distinguished set of partners, all of whom have decades of experience in hardware, design and retail," Eric Schmidt, Google Chairman and CEO, said in a statement. http://www.mediapost.com/publications/?fa=Articles.printFriendly&art_aid=128632
  20. U.S. Economy: Retail Sales Drop in October by Most on Record By Shobhana Chandra and Bob Willis Nov. 14 (Bloomberg) -- Retail sales and prices of goods imported to the U.S. dropped by the most on record, signaling the economy may be in its worst slump in decades. Purchases fell 2.8 percent in October, the fourth straight decline, the Commerce Department said today in Washington. Labor Department figures showed import prices dropped 4.7 percent, pointing to a rising danger of deflation, and a private report said consumer confidence this month remained near the lowest level since 1980. ``The weakness in growth is intensifying and inflation pressures have evaporated,'' said James O'Sullivan, a senior economist at UBS Securities LLC in Stamford, Connecticut, who accurately projected the decline in sales. ``Deflation is a word that will be increasingly used over the coming months.'' Spending may continue to falter as mounting job losses, plunging stocks and falling home values leave household finances in tatters. Retailers from Best Buy Co. to J.C. Penney Co. are cutting profit forecasts ahead of the year-end holiday shopping season, when many stores do most of their business. Federal Reserve Chairman Ben S. Bernanke said at a conference today in Frankfurt that continuing strains in financial markets and recent economic data ``confirm that challenges remain.'' The Fed chief said central bankers worldwide ``stand ready to take additional steps'' as warranted. Economists surveyed by Bloomberg News predict the Fed will lower its benchmark interest rate to a record 0.5 percent by March from the current 1 percent. Policy makers next gather in Washington Dec. 16. Stocks, Treasuries Stocks fell and Treasuries rose. The Standard & Poor's 500 Stock Index dropped 1.8 percent to 894.09 at 10:11 a.m. in New York. Yields on benchmark 10-year notes fell to 3.75 percent from 3.85 percent late yesterday. The Reuters/University of Michigan preliminary index of consumer sentiment was 57.9 in November compared with 57.6 last month. The measure averaged 85.6 in 2007. Retail sales were expected to fall 2.1 percent, according to the median forecast of 73 economists in a Bloomberg News survey. Purchases in September were revised down to show a 1.3 percent decrease compared with an originally reported 1.2 percent drop. ``The September-October credit jolt to the economy is showing up in all of the numbers now,'' Ellen Zentner, a senior U.S. macroeconomist at Bank of Tokyo-Mitsubishi UFJ Ltd. in New York, said in a Bloomberg Television interview. ``We're expecting the worst recession, possibly, post-World War II.'' Worse Than Estimates Retailers have now logged the longest string of monthly declines since the Commerce Department's comparable data series began in 1992. Excluding automobiles, purchases decreased 2.2 percent, almost twice as much as the 1.2 percent decline anticipated and also the worst performance on record. Declines were broad based as furniture, electronics, clothing and department stores all showed loses. Demand at automobile dealerships and parts stores plunged 5.5 percent after falling 4.8 percent in September. Car sales are among the most affected as banks make it harder to borrow. Treasury Secretary Henry Paulson this week said the government will shift the focus of the second half of the $700 billion rescue plan from buying mortgage assets to unclogging consumer credit. President-elect Barack Obama and Democrats in Congress are under pressure to push through another stimulus plan even before the new administration takes over. Filling-station sales decreased 13 percent, also the most ever, in part reflecting a $1-per-gallon drop in the average cost of gasoline. Excluding gas, retail sales fell 1.5 percent. Gain at Restaurants Sales at furniture, electronics, clothing, sporting goods and department stores were also among the losers. Restaurants, grocery stores and a miscellaneous category were the only areas that showed a gain. ``Since mid-September, rapid, seismic changes in consumer behavior have created the most difficult climate we've ever seen,'' Brad Anderson, chief executive officer of Best Buy, said in a Nov. 12 statement. The Richfield, Minnesota-based electronics chain said sales in the four months through February 2009 will decline more than it previously estimated. Rival Circuit City Stores Inc. filed for bankruptcy protection this week. Macy's Inc., Target Corp. and Gap Inc. were among the chains that reported same-store sales dropped in October, while shoppers searching for discounts on groceries gave sales a lift at Wal- Mart Stores Inc., the world's largest retailer. Nordstrom yesterday cut its profit forecast for the third time this year. Worst Season J.C. Penney, the third-largest U.S. department-store company, today forecast earnings that trailed analysts' estimates and posted its fifth straight quarterly profit decline as shoppers cut spending on home goods and jewelry. Shoppers are pulling back as the labor market slumps. The unemployment rate jumped to 6.5 percent in October, the highest level since 1994. Employers cut more than a half million workers from payrolls in the past two months. The longest expansion in consumer spending on record ended last quarter, causing the economy to shrink at a 0.3 percent annual pace. The economic slump will intensify this quarter and persist into the first three months of 2009, making it the longest downturn since 1974-75, economists forecast in a Bloomberg survey conducted from Nov. 3 to Nov. 11. Excluding autos, gasoline and building materials, the retail group the government uses to calculate gross domestic product figures for consumer spending, sales decreased 0.5. The government uses data from other sources to calculate the contribution from the three categories excluded. To contact the reporter on this story: Shobhana Chandra in Washington [email protected]
  21. Le détaillant de lingerie et de maillots québécois créera une coentreprise avec la firme hongkongaise Retail CHINA afin d'implanter des boutiques en Chine. Pour en lire plus...
  22. http://inhabitat.com/skye-halifax-green-skyscrapers-to-be-the-tallest-towers-in-nova-scotia/
  23. Ste. Catherine St. has top lease rates Tied with Bloor St. in Toronto. Most expensive retail corridors in Canada By LYNN MOORE, The Gazette June 8, 2010 Toronto's Bloor St. and Montreal's Ste. Catherine St. are Canada's most expensive retail corridors, according to Colliers International's 2010 Global Retail Report, released yesterday. Ste. Catherine St. is tied in 32nd position with Toronto's Bloor St. on the global list of shopping hot spots. Merchants in the two most popular Canadian shopping areas pay an average lease rate of $300 per square foot, according to the report. The 2010 Winter Olympic festivities in Vancouver were not enough for the city's marquee retail stroll -Robson St., with its average rate of $200 per square foot -to overtake Toronto and Montreal's premier retail streets on the list. Jim Smerdon, director of retail and strategic planning with Colliers, said the retailers themselves set the lease rates according to the importance of the location. "The hallmark of strong retail streets is a blend of the size of the market, things like accessibility and parking, and a host of intangibles such as the history of the street as a commercial destination," he said. Even though Toronto is larger than Montreal and the commercial capital of Canada with more head offices and wealthy residents, it's not surprising that Ste. Catherine St.'s shops can command the same rent, Smerdon said. Ste. Catherine St., which is often thick with pedestrians night and day, is an experience, he acknowledged. "Montreal is more of a destination for shoppers than Toronto is ... and Ste. Catherine is more of a lifestyle experience," he said. In 31st spot on the Colliers list was Honolulu's Kalakaua Ave. and 33rd spot was occupied by Amsterdam's Kalverstraat. The report shows that Canada's most exclusive streets are a bargain compared with the world's priciest, in such places as Paris, New York, Hong Kong and London, where rates per square foot exceed $1,000. Topping the list was the Champs Elysees in Paris, with an average lease rate of about $1,256. All figures in the report are in U.S. dollars. The information comes from surveys and material supplied by Colliers staff in 61 countries, Smerdon said. [email protected] © Copyright © The Montreal Gazette Read more: http://www.montrealgazette.com/business/Catherine+lease+rates/3125235/story.html#ixzz0qXanL7Xi