[Newsbot]

Title: The tally of closed retail stores in Canada keeps growing
Category: Business
Posted By: martin14
Date: 2015-02-10 09:58:48
Canadian

[martin14]

$1:

Here�s the list, the number of locations and the year the chain closed:

Jones New York, 36, stores, 2015
Target, 133 stores, 2015
Sony, 14 stores, 2015
Mexx, 95 stores, 2015
Smart Set, 107 stores, 2014
Bombay, Bowring & C0. Inc. and Benix & Co. Inc. 110 stores, 2014
Jacob, 92 stores, 2014
Juicy Couture, 5 stores, 2014
Grand & Toy, 19 stores, 2014
Petcetera, 18 stores, 2014
Big Lots/Liquidation World, 78 stores, 2014
Zellers, 220 stores, 2013
Espirit, 46 stores, 2012
Fields, 141 stores, 2012

[ShepherdsDog]

Radioshack is going tits up too.....not sure if there are any stores left in Canada though.

http://www.forbes.com/sites/liyanchen/2 ... il-stocks/

[herbie]

Many of the Fields stores in smaller towns remain open. Another outfit bought them, they're still branded as Fields. They're usually the ONLY dept store in town....
Wondering ig Giant Tiger will expand West to fill in the Big Lots/Liquidation World market.

[CDN_PATRIOT]

Bring back Zellers. I don't miss the grumpy people that worked at them, but I do miss the merchandise and selection.

-J.

[BartSimpson]

And how's Wal Mart doing?

I ask because Wal Mart is likely why so many retailers went under.

http://en.wikipedia.org/wiki/Walmart_Canada

$1:

Walmart Canada has been criticized for using low prices to drive out rivals and local businesses. Within ten years of Walmart's entry into Canada, well-established retailer chains such as Zellers, The Bay, and Sears Canada have struggled, with Kmart Canada being sold to Zellers while Eaton's (whom Walmart Canada overtook to become Canada's largest retailer[26]) filed for bankruptcy. The continued difficulties of competing against Walmart Canada eventually led to HBC selling the leases of most Zellers stores to Target Canada.

[Freakinoldguy]

ShepherdsDog ShepherdsDog:

Radioshack is going tits up too.....not sure if there are any stores left in Canada though.

http://www.forbes.com/sites/liyanchen/2 ... il-stocks/

They rebranded to the Source years ago although, it makes me wonder just how the hell that franchise stays afloat. Everytime I walk by the one in our big mall it's empty except for the 2 mandatory employees staring blankly at the far wall.

At least when it was Radio Shack they sold all the electronics fittings, wires and miscellaneous things so you could repair your own electronics. Now all they seem to sell are overpriced cell phones, laptops and GPS's.

[OnTheIce]

CDN_PATRIOT CDN_PATRIOT:

Bring back Zellers. I don't miss the grumpy people that worked at them, but I do miss the merchandise and selection.

-J.

Zellers was the author of their own demise. I didn't mind them, although their stores were kinda dirty.

Their inventory system was so ancient, it's part of the reason they sunk.

Most inventory systems auto-order when counts get low. Not Zellers. Zellers used a department budget so before the system could order, it would need to ensure there was room in the budget that month. So if an item went out of stock on Feb 5 and the budget was out...that shelf would sit empty until next month. It didn't matter if it was a sale item or a popular item...no budget left, no stock.

[peck420]

BartSimpson BartSimpson:

And how's Wal Mart doing?

In Canada? Not as well as they hoped.

Has Walmart survived in Canada? Absolutely.

Has Walmart thrived in Canada? Not so much.

Here is an article from last October:

http://business.financialpost.com/2014/10/06/retail-giants-such-as-walmart-sears-and-lowes-are-suffering-in-canada/

$1:

Walmart, for example, increased its square footage in Canada by 10.6% in fiscal 2013 and another 2.6% in fiscal 2014, and will add 1.5% in the current fiscal year, but “the huge infusion of capital has not yielded the returns to which Walmart is accustomed,” the analyst noted.

Operating income at the country’s biggest mass merchant has declined in three of the last seven quarters, and same-store sales at Walmart Canada have declined in six of the last seven quarters, with just a 0.2% rise in the most recent quarter.

We appear to be an extremely fickle market with Walmart having the pockets (really, the will) to sustain, and others not.

[Freakinoldguy]

BartSimpson BartSimpson:

And how's Wal Mart doing?

I ask because Wal Mart is likely why so many retailers went under.

http://en.wikipedia.org/wiki/Walmart_Canada

$1:

Walmart Canada has been criticized for using low prices to drive out rivals and local businesses. Within ten years of Walmart's entry into Canada, well-established retailer chains such as Zellers, The Bay, and Sears Canada have struggled, with Kmart Canada being sold to Zellers while Eaton's (whom Walmart Canada overtook to become Canada's largest retailer[26]) filed for bankruptcy. The continued difficulties of competing against Walmart Canada eventually led to HBC selling the leases of most Zellers stores to Target Canada.

Low prices by Walmart may have something to do with it but, poor management, poor marketing practices, poor business practices, not understanding your customers and a refusal to adapt to changing times had more to do with the demise or struggles of all those chains than any one competitor.

[OnTheIce]

Canadian retailers have this arrogance that Canadians will support Canadian stores, regardless of how shitty their service and pricing is.

We've proved them wrong. Zellers, Rona, Blackberry.....

[2Cdo]

Freakinoldguy Freakinoldguy:

Low prices by Walmart may have something to do with it but, poor management, poor marketing practices, poor business practices, not understanding your customers and a refusal to adapt to changing times had more to do with the demise or struggles of all those chains than any one competitor.

Exactly. I'm all for buying Canadian but when the Canadian product is more expensive and lower quality I'll pass. The same with any store that treats customer service like it's an infringement on their time.

[2Cdo]

OnTheIce OnTheIce:

Canadian retailers have this arrogance that Canadians will support Canadian stores, regardless of how shitty their service and pricing is.

We've proved them wrong. Zellers, Rona, Blackberry.....

You beat me to it.

[OnTheIce]

Freakinoldguy Freakinoldguy:

Low prices by Walmart may have something to do with it but, poor management, poor marketing practices, poor business practices, not understanding your customers and a refusal to adapt to changing times had more to do with the demise or struggles of all those chains than any one competitor.

The psychology of low prices is what gives Wal-Mart the advantage.

Prices aren't always lower on most items at Wal-Mart....they do hundreds of price changes a week to raise prices.

As prices 'roll back' prices on other items 'roll up'

[Jabberwalker]

ShepherdsDog ShepherdsDog:

Radioshack is going tits up too.....not sure if there are any stores left in Canada though.

http://www.forbes.com/sites/liyanchen/2 ... il-stocks/

They were sold and re-badged "The Source" about a decade ago. I believe that the American bankruptcy will not affect them.