{"id":55183,"date":"2015-07-11T14:18:17","date_gmt":"2015-07-11T06:18:17","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=55183"},"modified":"2015-07-11T14:18:17","modified_gmt":"2015-07-11T06:18:17","slug":"too-many-high-end-retailers-setting-up-shop-in-canada-retail-consultant","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2015\/07\/11\/too-many-high-end-retailers-setting-up-shop-in-canada-retail-consultant\/","title":{"rendered":"Too many high end retailers setting up shop in Canada: Retail Consultant"},"content":{"rendered":"
\"Montreal<\/a>
Montreal Square (Lissandra Melo \/ Shutterstock)<\/figcaption><\/figure>\n

MONTREAL — An explosion in the number of high-end retailers in Canada could lead to tough times for the segment down the road in a classic case of too many sellers chasing too few buyers, according to retail consultant Trendex.<\/p>\n

“Over the past two years, the Canadian expansion plans of both Nordstrom and Saks have come into focus as have the expansion\/remodelling plans for Holt Renfrew and Harry Rosen,” Trendex said in a newsletter.<\/p>\n

Together the total number of stores operated by the four banners will increase from 24 in 2014 to 36 in 2017, including 16 stores in the Toronto market alone.<\/p>\n

“While these store counts alone rightly raise concerns, they are only part of the story,” says Trendex, which estimates that more than 40 new high-end doors under various brands have opened in Canada over the past three years, with 30 more to be added between 2015 and 2017.<\/p>\n

Besides the risk to the segment from too many competitors and the possibility of a domestic or global economic downturn, Trendex noted that “luxury\/better retailers will also continue to experience problems finding and training competent sales personnel.”<\/p>\n

“By the end of 2017, the majority of new Canadian luxury\/better apparel retailers will shake their heads and wonder how they fell for the … pitch of Canadian developers.”<\/p>\n

Meanwhile, Trendex described the first four months of 2015 as a “mixed bag” for Canada’s clothing retailers.<\/p>\n

While FGL Sports, Mark’s, Reitman’s, Walmart and HBC’s DSG Division reported stronger results, many others continued to struggle.<\/p>\n

Danier Leather, American Apparel, Gap and Sears Canada all sustained double-digit sales decreases. Le Chateau lost $12.4 million as sales were down less than the prior year but same-store sales were lower.<\/p>\n","protected":false},"excerpt":{"rendered":"

MONTREAL — An explosion in the number of high-end retailers in Canada could lead to tough times for the segment …<\/p>\n","protected":false},"author":44,"featured_media":55184,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1482,19,18],"tags":[],"class_list":["post-55183","post","type-post","status-publish","format-standard","has-post-thumbnail","category-breaking","category-business","category-news-ca","mauthors-the-canadian-press1"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/55183","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/comments?post=55183"}],"version-history":[{"count":0,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/55183\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/55184"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=55183"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=55183"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=55183"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}