HomeDiagramsDatabaseMapsForum About
     

Go Back   SkyscraperPage Forum > Regional Sections > Canada


Reply

 
Thread Tools Display Modes
     
     
  #181  
Old Posted Sep 18, 2005, 5:17 AM
Kilgore Trout's Avatar
Kilgore Trout Kilgore Trout is offline
菠蘿油
 
Join Date: Jul 2001
Location: hong kong / montreal
Posts: 6,135
Quote:
And the Virgin megastore in Vancouver is an HMV now with shitty selection. What's up with that?!
virgin pulled out of canada and is going to focus on expansion in the united states instead; hmv is going to boost its presence in canada.
__________________
¯\_(ツ)_/¯
Reply With Quote
     
     
  #182  
Old Posted Sep 18, 2005, 10:04 PM
SSLL's Avatar
SSLL SSLL is offline
samsonyuen
 
Join Date: Apr 2005
Location: Canary Wharf->CityPlace
Posts: 4,241
It shouldn't cost that much to buy a cellphone. A lot of times, you can get a free phone with certain contracts.
Reply With Quote
     
     
  #183  
Old Posted Sep 20, 2005, 7:43 PM
Hootch's Avatar
Hootch Hootch is offline
BANNED
 
Join Date: Aug 2004
Posts: 1,147
It's a 3-year contract. I had to pay a $300 security deposit which I'll get back in 6 months if I pay every monthly bill on time. I also get $200 credit on my first bill. So if I do everything right then the price was $60.

That was my initial reaction "It shouldn't cost me $560 for a cell!!". Did I get screwed?
Reply With Quote
     
     
  #184  
Old Posted Sep 20, 2005, 8:16 PM
ibz's Avatar
ibz ibz is offline
GT Champion
 
Join Date: Jul 2001
Location: Calgary
Posts: 1,734
I guess it depends on what cell phone you bought - but having worked in the business before - you probably got a decent deal. ALthough depending where you bought the phone you more then likely could have got the $200 taken off the phone in store as opposed to bill credit.

The best time to buy a cell phone btw is December/Christmas. Not only will you get an outstanding plan not availible the rest of the year, you get the standard free phone/heavy discount for signing a contract plus some great free shit (for example $100 Gift Cards at Best Buy/Fshop)
__________________
...
Reply With Quote
     
     
  #185  
Old Posted Sep 20, 2005, 8:26 PM
SSLL's Avatar
SSLL SSLL is offline
samsonyuen
 
Join Date: Apr 2005
Location: Canary Wharf->CityPlace
Posts: 4,241
Well, it might be a really nice phone...Something like a Razr would cost a lot, I'd imagine.
Reply With Quote
     
     
  #186  
Old Posted Sep 20, 2005, 8:45 PM
ibz's Avatar
ibz ibz is offline
GT Champion
 
Join Date: Jul 2001
Location: Calgary
Posts: 1,734
Razrs are niiiiice (as I look at my beautiful black razr )
__________________
...
Reply With Quote
     
     
  #187  
Old Posted Sep 25, 2005, 4:22 PM
SSLL's Avatar
SSLL SSLL is offline
samsonyuen
 
Join Date: Apr 2005
Location: Canary Wharf->CityPlace
Posts: 4,241
Sep. 25, 2005. 08:51 AM
STUART NIMMO/TORONTO STAR
BUSINESS REPORTER

The laces between the Brownsteins and some Italian shoemakers have been intertwined for almost half a century. Families such as the Ferragamos have supplied the Brownsteins' Montreal-based shoe retail chain with upscale, fashionable footwear for generations.
A few months ago, Michael Brownstein proudly presented his son, David — the fourth generation to join his family's Browns Shoe Shops — to one of the company's long-time Italian suppliers. The man seemed downright distraught, prompting Michael to ask why.
"Your father I worked with, and he was nice. You were a lot tougher," the supplier explained. "I don't want to meet your son."
Of course, suppliers know the Brownsteins may be tough, but they're true.
Browns Shoe Shops was started by Michael's grandfather, Benjamin Brownstein, in 1940. Morton Brownstein, Michael's father, took over the business, and in 1959 became (as far as the company knows) the first Canadian retailer to import shoes from Italy and carry designer labels such as Salvatore Ferragamo and Bruno Magli.
Parallel generations in Italy and Canada — from Morton's to Michael's to David's — have worked together since, even as Browns grew from a single store in Montreal to more than 40 locations across the country.
"We'll never let them down and they know that, because of our relationship," Michael explains, noting he buys from those suppliers every year, even if a season's line is weaker than usual. "Even if you're buying less than you bought (in previous years), you have to buy something because they're counting on us. ... We've been in business with them for so many years."
That kind of familial give and take is one of the things that made Browns a shoe-in for the Micam award, a prestigious industry accolade that had never before been given to a retailer outside Italy.
"The whole ambiance, the atmosphere of our company is very family-oriented," Michael explains. "Our staff is very important to us and are very close and we treat them like family."
If a relative of a staff member has health problems, for example, the Brownsteins, who are involved with Montreal hospitals, may help them get appointments with doctors, he says.
The focus on relationships spills over into the family's interaction with customers.
"Even our buyers and our executives try to spend as much time in the stores as they can, meeting customers and meeting our staff," Michael explains.
In fact, David's job right now is spending some time at each of the stores in Toronto, where the company now does the bulk of its business, and getting to know the staff and customers.
"Each of our stores has different merchandise, different customers that we're targeting," explains David, 25, who joined the company in recent months. For example, the downtown stores are faster-paced than the more service-oriented Yorkville flagship, he says.
The stores that David is getting to know in intimate detail are a big step up from the single family shoe store started by his great-grandfather, Benjamin, 65 years ago.
"In those days," Michael explained, "shoe stores were boxes on the floor and a few chairs."
After the original store burned down in 1954, Morton had a grander vision for the next version, so he hired a store interior designer. The designer asked what kind of store he was designing, and Morton's decision took Browns upscale, catering to customers most conscious of the latest fashions. With a vision to give those clients something special, he began importing Italian shoes in 1959.
"He figured that the latest fashion was coming from Europe and so he went to Europe to bring the fashion to North America," said Michael. It's been a family tradition ever since.
"We go to Europe six times a year."
Almost right off the bat, Morton, who still chairs the company at age 77, began persuading big names to design exclusive lines for his company.
Morton soon realized that expanding Browns would strengthen relationships with suppliers. As shopping centres sprouted all over Montreal and Toronto in the 1960s and 1970s, Browns followed.
"Every time a major centre would open, we'd open a store there," explains Michael, 56, who joined the company full-time in 1973 and is now its president. His sister, Janet, also works for the family business, handling public relations.
In the next few decades, both the Bay and Holt Renfrew approached Browns and invited them to open boutiques within their department stores. Browns took that as an opportunity to branch out into new cities such as Vancouver.
The company's expansion has served it well in its negotiations with suppliers for exclusive lines, including many from designer brands such as Giancarlo Paoli and Manolo Blahnik.
"Don't forget — we have 40 stores," Michael points out. "We have a lot of power in Canada."
Many of the company's suppliers manufacture shoes exclusively for Browns's six private labels, which develop many of their own products.
In the 1990s, Michael realized that some of those shoes would benefit from a wider audience. "We had this product that was very young, very cool," he explained. "In order to attract a younger customer, we needed a younger atmosphere also."
And so Browns opened its first B2 store on a hip strip of Queen St., to better showcase trendy sneakers, backpacks and other street fashion. There are now five stores under the B2 banner, including one in the Eaton Centre whose coloured glass and curved metal décor contrasts sharply with the hardwood and brick of the flagship Browns store in Yorkville. Despite their cosmetic differences, both Browns and B2 stores share a similar philosophy.
"Our buyers are always on the lookout for whatever's new and whatever's hot," says Michael. The buyers include his 23-year-old daughter, Julia, who has just joined the company as an assistant buyer after graduating from the Fashion Institute of Technology in New York.
Actually, the entire family is involved in the business now — Michael's wife, Thérèse, accompanies him on his trips to Europe and also acts as his consultant, particularly when it comes to women's fashions.
Stylishly dressed in autumn orange on a warm, late summer day, she's always looking to the next season. In Europe, she pays keen attention to what there is for sale in the stores, what fashion-conscious women are wearing and what kind of shoes would go well.
"Even on vacation, I was in Italy and I (saw) all these jeans, jeans, jeans," she says, her excitement and passion for fashion bubbling through her French-accented voice. "I said, `Michael, cowboy boots (are) just going to be right on.' "
And so, this season, the Yorkville Browns store has an extensive lineup of cowboy boots on display atop its curved glass shelves.
A collective family effort keeps Browns on the leading edge of fashion, and keeping that edge is crucial to their success, Thérèse explains.
"We go in trendy places," she says. "We don't go to four-star restaurants where the (average) age is 75. We go where everything's happening. That's the way it has to be."
Reply With Quote
     
     
  #188  
Old Posted Oct 5, 2005, 7:45 PM
SSLL's Avatar
SSLL SSLL is offline
samsonyuen
 
Join Date: Apr 2005
Location: Canary Wharf->CityPlace
Posts: 4,241
Wednesday » October 5 » 2005
Costco leaves no stone unturned
Kristin Goff
The Ottawa Citizen
Wednesday, October 05, 2005

'We know we are going to grow in Canada,' says Costco Canada country manager Louise Wendling. The shopping-club giant, which once figured 20 warehouse-style stores would cover the Canadian market, now believes Canada 'could easily support 100 stores,' she says.
When Costco Wholesale began doing business in Canada nearly 20 years ago, officials figured it could succeed only in markets with a half million people or more.

But as Costco Canada prepares to open its third Ottawa store in Kanata in mid-November, its 66th in Canada, it has much more ambitious plans for the retail strategy it once thought was limited to 20 warehouse-style stores in the country.

"I think Canada could easily support 100 stores," says Canada country manager Louise Wendling.

That could mean opening 10 to 15 more stores, including some in much smaller markets, over the next few years, she says.

The company, headquartered in Ottawa, also plans to move its Gatineau store to a larger location next spring.

"We're very aggressive in our approach," says Ms. Wendling. "We know we are going to grow in Canada."

Part of that optimism is based on the company's strategy of selling more to each of its 6.4 million shopping-club customers, who pay annual fees of $45 to $100 for regular or premium types of business or individual memberships as a requirement to shop there.

Even in this day of "everything under one roof" retailing, where you can buy ice cream at department stores and bank at the grocer, Costco Canada seems to be pushing things to the limit.

The club-shopping store sells bulk household and business staples in its warehouse-style stores, but also name-brand clothes, big screen televisions, computers, some appliances and a growing number of services, such as emergency roadside assistance and preferred rates for small-business payroll processing.

Its online store, which started this year, has added violins and trumpets, backup solar-power kits and expensive jewelry to its product mix. The most expensive diamond rings on its costco.ca website this week top $10,000 -- chump change compared with ian exquisite diamond ring that sold for $249,999 this year, its most expensive item by far.

That amazing wide range of products and services could seem like a wildly unfocused strategy. But it isn't, says Maureen Atkinson, a partner with retailing consultant J.C. Williams Group in Toronto.

"They know who their customers are and who they are not, and they are really sharply focused that way," she says.

"For that customer, they are going to do everything."

Because it charges membership fees, Costco shoppers are largely small-business owners and above-average income suburban families, and Costco is working to leverage that relationship in a big way.

It is a strategy that Wal-Mart uses in its Sam's Club stores, which have only started making inroads in Canada with a half-dozen stores in southern Ontario but are widely expected to roll out across the country.

Wal-Mart won't talk about its expansion plans in Canada. So far it doesn't have an online store in Canada, but its U.S. website also carries a wide range of products, from diamond rings to business supplies.

The two membership warehouse titans have battled for years in the United States, where Costco has fewer stores but has managed to achieve higher per-store sales by leveraging more sales per customer.

"We feel we can compete very well against them in Canada, as we did in the U.S.," says Ms. Wendling. Part of its strategy is to find "high quality" goods that the company believes will sell quickly and appeal to its higher income customers.

Despite its discount prices (Ms. Wendling says Costco's maximum markup is only 14 per cent), Costco pays employees $47,000 annually when they reach the top scale, usually after four or five years, she says.

Costco plans to hold a job fair from 10 a.m. to 3 p.m. on Oct. 14 at the Bell Sensplex to help fill the 200 new jobs the Kanata store will generate.

Employees at its new Kanata store, near Silver Seven Road, will start at $9.50 an hour, but pay progresses quickly based on cumulative hours worked, company officials said.

Costco, headquartered in Issaquah, Washington, doesn't separately report its Canadian financial results.

But officials confirm its sales top $8 billion a year, making it the fourth-largest retailer in Canada.

Costco clearly has one eye on the prospect of growing competition in Canada from Sam's Club. But its latest push into offering more and more services is aimed at more than simply building loyalty among its shoppers in response to Sam's Clubs, says Ms. Atkinson.

Offering services is a way for stores to ramp up sales, without having to physically expand their floor space. In the United States, the trend has taken off. Grocery stores, for example, are offering medical services, where nurse practitioners treat colds and common ailments, Ms. Atkinson said.

Loblaws' Presidents Choice Financial, which offers banking services along with groceries, is one example of the trend she expects to see sweep through the Canadian retail landscape soon.

"This trend will only be limited by the customer," says Ms. Atkinson. "At what point does the customer say, 'I'm not going to buy that in a grocery store?' "

Costco Canada might well be at the forefront of testing that proposition, following the lead of its U.S. parent.

Costco regular or "executive" members (who pay a higher membership fee) can already sign up for such things as emergency roadside service, telephone and Internet plans, and real estate services, which are offered through partnerships it negotiates for its members.

Car and home insurance are coming soon, officials say.

And by next summer, the retailer plans to offer "high quality" travel services and upscale packages -- such as cooking classes in Tuscany --at Costco prices.

Its business members can access payroll, credit card and debit processing financial services, among others.

"We like to have 10 or 12 services offered at any time where the price is great, and it really gives value to our membership," says Ms. Wendling.
Reply With Quote
     
     
  #189  
Old Posted Oct 5, 2005, 7:58 PM
SSLL's Avatar
SSLL SSLL is offline
samsonyuen
 
Join Date: Apr 2005
Location: Canary Wharf->CityPlace
Posts: 4,241
Does anyone remember the Hear Music branded in-store shops at Chapters? I know they had one at 110 Bloor in Toronto, and I believe there was one in Festival Hall or Midtown Toronto as well, at least. I really like the music, and think it'd be pretty cool...Hope it gets approved.
_________________________________
Ottawa reviewing Starbucks music bid
By DEAN BEEBY
Sunday, October 2, 2005 Posted at 1:57 PM EDT
Canadian Press

The federal government is reviewing a proposal by coffee titan Starbucks Corp. to establish a retail music business in Toronto to make sure it's a net benefit to the country.

The Department of Canadian Heritage wants to know whether the new enterprise will offer acceptable levels of Canadian content and employ enough Canadian workers.

The federal cabinet ordered the secretive review under the Investment Canada Act on Sept. 12 to determine the impact on Canadian culture.

Starbucks is proposing an investment under its Hear Music brand, which it acquired in 1999 as two existing music stores in California.

The upscale java firm has been aggressively expanding its Hear Music operations in the United States. Starbucks has a Hear Music coffee house in Santa Monica, Calif., where patrons can mix and match songs to create customized burned CDs.

Two more such outlets are planned for Miami and San Antonio by the end of the year.

Starbucks also runs so-called virtual record stores in Seattle and Austin, Tex., where customers can download entire albums for a fee. The company also sells a small selection of CDs at its regular coffee outlets in Canada and the United States.

A spokeswoman at the Seattle-based firm's headquarters would not provide information about the proposed Toronto business, except to say it's not a Hear Music coffee house.

“We're committed to working with the government officials,” Sanya Gould said of the application to Canadian Heritage.

“And we have filed a response to the government inquiry as required by law. Currently, the response is being reviewed and we expect further discussions to follow the review.

“This is all we have to say on this topic.”

Starbucks was caught in a controversy in June when it struck a deal with Alanis Morissette to exclusively stock an acoustic re-issue of her 1995 hit Jagged Little Pill for six weeks.

In protest, rival retailer HMV pulled all Morissette stock from its Canadian shelves “consistent with the views of the majority of our customers,” president Humphrey Kadaner said at the time.

Canadian Heritage's review of the Starbucks proposal will include assessing whether it will nurture new Canadian talent, and whether there will be a commitment to “the creation, production, distribution, marketing and preservation of Canadian cultural products in Canada, through traditional and new media,” according to a departmental policy document.

The employment of Canadian workers is also a factor in the decision. The policy applies only to cultural investments that are foreign-controlled.

“When we are dealing with a company involved in the sale of audio recordings, one of the things we do look at is the extent to which they will provide Canadian content,” said department spokeswoman Carla Curran.

“We want to ensure that Canadians can have access to music that's produced by Canadians, that's performed by Canadians, or that's written by Canadians...That's a fairly important factor for us, quite a significant factor.”

Ms. Curran declined to comment on the Starbucks proposal because of commercial confidentiality. The review process is expected to take at least 45 days.

Currently, domestic music stores in Canada are free of any regulatory requirement to stock or promote home-grown music.

A spokesman for the Canadian Recording Industry Association said his group could not comment on the Starbucks investment without seeing more details.

But president Graham Henderson said the association supports new approaches to retailing music, including the mix-and-match approach being used at Starbucks' Santa Monica outlet.

“The more digital channels we can open to the consumer, the better,” he said from Toronto.
Reply With Quote
     
     
  #190  
Old Posted Oct 7, 2005, 10:09 PM
SSLL's Avatar
SSLL SSLL is offline
samsonyuen
 
Join Date: Apr 2005
Location: Canary Wharf->CityPlace
Posts: 4,241
Neat. I know in the UK and US, it's provided by T-Mobile.
____________________________________________________________________
Oct. 7, 2005. 01:00 AM
Starbucks, Bell Canada to offer Wi-Fi at coffee shops

Starbucks and Bell Canada plan to roll out wireless Internet service at the coffee retailer's shops across Canada, U.S.-based Starbucks said yesterday.
The wireless fidelity service will allow customers to access email or the Internet from Starbucks outlets, the company said.
"Our customers will find that Wi-Fi service at Starbucks comes with great extras, like the ability to listen to free music clips from CDs featured in our stores," Colin Moore, president of Starbucks Coffee Canada, said in a statement.
The service provided by Bell Canada will offer high-speed connectivity, a uniform log-in process and the ability to bill usage to regular monthly carrier statements or a credit card.
The first wireless hotspots will open at 140 Starbucks stores in Ontario. The service will expand to more than 400 shops in B.C., Alberta, Manitoba and Saskatchewan over the next year.
Seattle-based Starbucks announced this week its same-store sales around the world rose 10 per cent for the five weeks ended Oct. 2 compared with a year earlier, boosted by its espresso drinks. It said it expects October same-store sales growth to be in the range of 3 to 7 per cent.
Starbucks opened 1,672 new stores in fiscal 2005, which ended on Monday, ahead of its global store opening target of 1,500 stores.
Reply With Quote
     
     
  #191  
Old Posted Oct 16, 2005, 9:06 AM
SSLL's Avatar
SSLL SSLL is offline
samsonyuen
 
Join Date: Apr 2005
Location: Canary Wharf->CityPlace
Posts: 4,241
I can't believe there are 11 in Greater Toronto, but none outside it yet...
_________________________________
H&M Continues Expansion in Toronto
Three new stores to open in Toronto this fall.

Swedish-based clothing retailer H&M will open three new stores this fall at Scarborough Town Centre, Square One and Erin Mills Town Centre, adding to the eight existing stores in Toronto.

Scarborough Town Centre, opening September 15th, will occupy over 13,000 square feet and will feature H&M lines for women and children.

Square One, opening October 13th, will occupy over 16,000 square feet and will feature lines for women, teens and children.

Erin Mills Town Centre, opening October 27th, will occupy over 17,000 square feet and will feature lines for women (including lingerie), men and children.

Additionally, H&M will re-open its Oakville Place location on September 29th, to include a children’s section.

“Enthusiasm for the H&M brand continues to build in Toronto and it’s exciting for us to open in all of these new areas to better service our customers, says Lucy van der Wal, country manager, H&M Canada.

“Clearly there continues to be a need for stylish, quality clothing at affordable prices. And with fall finally here, the timing is perfect.”

H&M currently has eight other store locations in Toronto. They include: Fairview Mall, The Promenade, Markville Shopping Centre, Toronto Eaton Centre, Vaughan Mills Shopping Centre, Bloor Street (a new Trend Concept Store, the first of its kind in North America), Oakville Place and Yorkdale Shopping Centre.
Reply With Quote
     
     
  #192  
Old Posted Oct 19, 2005, 8:43 PM
SSLL's Avatar
SSLL SSLL is offline
samsonyuen
 
Join Date: Apr 2005
Location: Canary Wharf->CityPlace
Posts: 4,241
M&M Meats to open as many as 225 more stores countrywide within 6 years
ALLAN SWIFTSun Oct 16,12:39 PM ET
MONTREAL (CP) - M&M Meat Shops, one of the country's most successful franchise operators, is making a big push in Quebec as the Kitchener, Ont.-based company celebrates its 25th anniversary.

Mac Voisin, chairman and co-founder, said M&M has plans to open 40 to 50 outlets in Quebec during the next five to six years, to add to the 59 already established.

"Quebec is probably the biggest area of growth in the next number of years," Voisin said in an interview in Montreal.

After opening its 400th meat shop last month in Pickering, Ont., Voisin said the company shows no sign of slowing down, despite a saturation in some of its Ontario suburban markets, where 209 of the stores are located.

"We expect in the next five or six years there will be 600 to 625 outlets across the country," Voisin predicted.

M&Ms are spread from Victoria to Whitehorse to St. John's, Nfld., employing about 2,200 people. All are franchise operations with the exception of three company-owned training stores.

Voisin projects sales this year to reach $423 million. A private company, M&M does not reveal profits or losses.

M&M stores are typically found in city suburbs, where its frozen-meat and ready-to-serve dishes cater to two-salary, two-car families in a hurry.

But Voisin said that while there is still room for growth in those markets, M&M is developing a new concept of a smaller store aimed at regions and downtown cores.

"We want to go more into smaller rural markets where we can't go in with a fullsize store because it wouldn't make economic sense, and also into downtown cores where people live and work." Compared with the current store sizes of 1,200 to 1,500 square feet, the new model will have 800 or 900 square feet.

The first small-scale store to test the market will be opened next month in Mount Forest, Ont. about an hour north of Waterloo.

Voisin said M&M is also open to growing through acquisitions of other food retailers, and eventually taking its concept to the United States.

Last year his company lost a bid to take over the Laura Secord chocolate store chain.

M&M stores carry some 350 products, including cakes, prepared dishes and hors d'oeuvres along with its staple of "flash-frozen" meat cuts.

The company is also in the middle of a six-year program to redesign all the stores, at a cost to the franchisee of $25,000 to $50,000 per store.

The company buys its meat from national brand suppliers like J. M. Schneider Inc., McCain Foods Ltd. and Maple Leaf Foods Inc., selling it under its own label in a plain white box, contrary to the brightly coloured boxes sold by its supermarket competitors.

The company has also opened counters at 12 Mac's Milk convenience stores in Ontario, that belong to Quebec-based Couche-Tard Inc.

Voisin said the Mac's Milk outlets "are working reasonably well, and we'll open more of them, although that's not going to be a primary focus of expansion."

John Winter, independent retail analyst in Toronto, said M&M has been successful by having loyal customers, a good image, and keeping to its core product which is good quality meat.

"It sticks to its knitting and presumably because it's so large it can get good prices on its purchases," Winter said, adding that M&M stores generally have good locations.

Winter said the company has probably benefited from the decline of mainstreet butcher shops.

Voisin, the second of nine children, and his associate Mark Nowak opened the first M&M Meat Shop in 1980 aimed at barbecue fans. Voisin relinquished the title of president of Gary Decatur last June.
Reply With Quote
     
     
  #193  
Old Posted Oct 20, 2005, 4:19 AM
eventhrzn eventhrzn is offline
Registered User
 
Join Date: Jul 2005
Location: Calgary, AB
Posts: 188
I'm glad to hear that M&M is looking at putting stores in the downtown cores. It's not just the families that are looking for good, quick meals! I know in Calgary, it's a bit of a drive to get to one from downtown (Bankview is the closest that I know of). I think they'll do decent downtown -- perhaps something other than a coffee shop to go into the retail bays in the west end!
Reply With Quote
     
     
  #194  
Old Posted Oct 20, 2005, 10:07 PM
SSLL's Avatar
SSLL SSLL is offline
samsonyuen
 
Join Date: Apr 2005
Location: Canary Wharf->CityPlace
Posts: 4,241
I used to live off that stuff. For a uni student, it's a godsend...
Reply With Quote
     
     
  #195  
Old Posted Oct 28, 2005, 3:07 PM
canucklehead2 canucklehead2 is offline
Sex Marxist of Notleygrad
 
Join Date: Feb 2004
Location: YEG
Posts: 6,847
Did anyone hear that an offer has been made for "HBC/Zellers" from an American investor, and it will most likely be sold. Now thats a sad day for Canada in my opinion.
Reply With Quote
     
     
  #196  
Old Posted Oct 28, 2005, 4:11 PM
floralieca's Avatar
floralieca floralieca is offline
Attention, chien méchant
 
Join Date: Mar 2004
Location: Dogville
Posts: 940
Remember, we spoke about that more then a year ago. Here's what I found in French about the offer. I think Zucker is the owner of Target Stores.

What a sad story.


La Baie fait l'objet d'une offre d'achat

Richard Dufour
28 octobre 2005 - 09h54
L'homme d'affaires américain Jerry Zucker fait une offre de 14,75$ par action, en argent, aux actionnaires de la Compagnie de La Baie d'Hudson (HBC).

Texte: Envoyer Imprimer © Reproduire


L'action de La Baie, la plus vieille entreprise du Canada, a clôturé à $12.63 jeudi à la Bourse de Toronto.

La fortune de Jerry Zucker, 55 ans, est évaluée à un milliard de dollars américains par le magazine Forbes.

L'offre d'achat déposée par le financier de la Caroline du Sud équivaut à environ un milliard de dollars. La transaction se ferait par l'entremise de la société de placements de M. Zucker, Maple Leaf Heritage.

Depuis deux ans, Jerry Zucker a accumulé des actions de La Baie, la compagnie mère des magasins La Baie et Zellers. Plus tôt ce mois-ci, M. Zucker avait acquis 1,5 million d'actions de La Baie.

En juillet, le titre de La Baie a touché un sommet de 15,75 $ en Bourse.

Plus de détails à venir
__________________
Please mind the gap Floralieca's blog
Reply With Quote
     
     
  #197  
Old Posted Oct 28, 2005, 10:46 PM
canucklehead2 canucklehead2 is offline
Sex Marxist of Notleygrad
 
Join Date: Feb 2004
Location: YEG
Posts: 6,847
I hope it doesn't go through but I am sure it will. It didn't mention his investment in Target this morning but yeah, this was probably an eventuality. Now there will be even fewer Canadian owned chains around! Boo!
Reply With Quote
     
     
  #198  
Old Posted Oct 28, 2005, 11:13 PM
SSLL's Avatar
SSLL SSLL is offline
samsonyuen
 
Join Date: Apr 2005
Location: Canary Wharf->CityPlace
Posts: 4,241
No, Zucker does not own Target store. It is a publicly traded company, (but he does not own a large part of it). However, there is rampant spec that he will sell Zellers off pretty quickly. Soon it will be one big retail company called StoreCo, and it will own all the stores, but under different brands. But seriously, if this guy succeeds, you can say hello to Target (buying Zellers), and I would think the Bay would probably end up as a lot of Sears. And Home Outfitters sold between Linens 'N Things and Bed Bath and Beyond should they decide to enter Canada (like they had in the late '90s with the advent of Vaughan Mills, but when the project was stalled and resurrected, Home Outfitters and LNT had built store networks already, so they decided not to).
__________________________________
Takeover a new adventure for HBC
Gary Norris
Canadian Press
Friday, October 28, 2005

TORONTO -- Centuries before there was a country called Canada, there was the Hudson's Bay Co.

Incorporated in May 1670 as The Governor and Company of Adventurers of England Trading into Hudson's Bay, it concentrated on the fur trade during its first 200 years of existence.

"In order for us to understand the development of the Prairies, to understand relations between natives and non-natives, the Hudson's Bay Co. played such a tremendous role that we have to acknowledge it," York University history professor Marcel Martel commented Friday after the company received a $1-billion takeover bid by U.S. businessman Jerry Zucker.

"They were there because they wanted to take advantage of a lucrative business, the fur trade, and of course they relied heavily on natives, on voyageurs, French-Canadians."

The company's history is an epic tale of a private-sector exploration and exploitation of a large part of the continent -- and then an ongoing failure to fully profit from its assets, said Joe Martin, director of Canadian business history at the University of Toronto.

"There's this romanticism around the company, but the more you look at it, it's a story of lost opportunities."

In 1869, its vast chartered territory -- the region of northwestern Quebec, northern Ontario and western and arctic territories whose rivers drain into Hudson Bay -- was transferred to the two-year-old government of Canada.

In return, the company received 300,000 pounds in cash and about five per cent of the arable land in what now is Manitoba, Saskatchewan and Alberta.

"It's the biggest real-estate transaction in the history of the world, and nobody's heard of it," commented Martin.

After spending the 1880s selling Prairie farmland to settlers, the company turned to retail trade, building a chain of western Canadian department stores and later -- belatedly, in the 1960s -- entering the eastern retail market.

"There's a lack of reality around this" which has continued to the present day, said Martin.

"There are these cultures within organizations that last for an extraordinarily long time, and if the management doesn't take very real stock of it, they'll be captive to the culture."

Other ventures over the years included running oil and gas companies, engaging in property development and dabbling in businesses ranging from liquor distilling to travel agencies, credit bureaus and auction houses.

Meanwhile, the company continued to expand its retail operations organically and through acquisitions.

The most notable of those were the 1960 purchase of Morgan's department stores, the 1978 takeover of the Zellers discount chain, the 1979 purchase of the Simpsons stores, the 1990 acquisition of the Towers group, the 1993 takeover of the Woodward's department stores in B.C. and Alberta, and the 1998 purchase of Kmart Canada.

In 1979, the family of the late newspaper magnate Roy Thomson took over Hudson's Bay Co., beating out a proposal by George Weston Ltd.

The economic downturn of the early 1980s prompted HBC to shed non-core holdings and concentrate on its stores.

The Thomson family sold the last of its shares in 1997, and Hudson's Bay Co. returned to its historical status as a joint stock corporation with no controlling owner.

While it may be a grand old company, with almost 70,000 employees at more than 500 stores, Hudson's Bay hasn't been a notably grand investment in recent years.

In 1994, it reported net profit of $184.3 million on revenue of $5.8 billion.

Its 2004 profit was $60 million on revenue of $7.1 billion.

Its shares (TSX:HBC), worth $25 each a decade ago, topped out at $38 in September 1997, then fell to the $6 level three years ago.

They were around $9 when Zucker began accumulating a holding in mid-2003, and at $10.65 just before he disclosed his interest in December 2003.

On Thursday, the day before Zucker's $14.75-per-share offer, the stock was at $12.63.

The company's three-century trove of meticulous record-keeping has become a major store of information for historians, York's Martel observed, describing Hudson's Bay as one of the few companies that have shaped Canadian history.

"Not that I'm very nostalgic," he added. "Of course it's a business, but it's a business that has shaped and has influenced the lives of so many Canadians."
Reply With Quote
     
     
  #199  
Old Posted Oct 28, 2005, 11:16 PM
SSLL's Avatar
SSLL SSLL is offline
samsonyuen
 
Join Date: Apr 2005
Location: Canary Wharf->CityPlace
Posts: 4,241
Another takeover, but not quite as exciting...So now I believe Benix owns Bowring, Benix & Co., Barnes & Castle, Basil & Cooke, and (I believe) Stokes too. Why would Circuit City/InterTan want to buy more of the sites anyway?
___________________________________________
Oct. 28, 2005. 01:00 AM
Benix gets okay to take over most stores from ailing Bowring
DANA FLAVELLE
BUSINESS REPORTER

Toronto-based kitchen goods retailer Benix & Co. has won court approval to buy the assets and assume the leases of financially troubled giftware and furniture chain Bowring.
Benix has offered to take over all but eight of Bowring's 64 stores, including both its traditional mall-based gift outlets and its larger suburban power-centre home-furnishing stores.
The deal is subject to the approval of Bowring's landlords by Nov. 8, according to documents filed in court by insolvency experts RSM Richter Inc., which acted as monitor and receiver in this case
Calls to Benix were not returned yesterday.
Bowring filed for bankruptcy court protection on Aug. 16 owing $20.6 million to creditors. Its parent company, Tereve Holdings Inc., blamed increased competition from big-box retailers and changing mall demographics.
Tereve's chairman and chief executive officer Sarah Everett said in an affidavit its core customers, women between 35 and 54 years of age, were no longer shopping in malls as malls became more youth-oriented. Instead, older women were now shopping at power centres.
Bowring planned to close most of its mall-based stores and sell the leaseholds to InterTAN Canada Ltd., a subsidiary of consumer electronics company Circuit City Inc.
But Bowring's landlords nixed the deal. So, the leases went back on the market. At the same time, Bowring was looking for a buyer for its off-mall stores. Benix ended up making offers for both.
Benix's plans for the Bowring stores were unclear yesterday. Benix is a privately held business run by Fred Benitah, whose brother Isaac has interests in Fairweather, International Clothiers and Montreal-based Les Ailes de la Mode.
Reply With Quote
     
     
  #200  
Old Posted Oct 29, 2005, 5:33 AM
canucklehead2 canucklehead2 is offline
Sex Marxist of Notleygrad
 
Join Date: Feb 2004
Location: YEG
Posts: 6,847
I hope that your scenario doesn't come to pass. It would be a truly sad day for this nation if that happens. North Americas oldest company and the basis for much of Canada sold off to some investor from South Carolina and then broken apart to other American chains. If that happens I will boycott as many of these companies as possible, and its not just for nationalistic purposes. Its bad enough Canada is rapidly become a complete branch plant economy, but I am certainly not going to aid in that any time soon.
Reply With Quote
     
     
This discussion thread continues

Use the page links to the lower-right to go to the next page for additional posts
 
 
Reply

Go Back   SkyscraperPage Forum > Regional Sections > Canada
Forum Jump



Forum Jump


All times are GMT. The time now is 9:17 AM.

     
SkyscraperPage.com - Archive - Privacy Statement - Top

Powered by vBulletin® Version 3.8.7
Copyright ©2000 - 2024, vBulletin Solutions, Inc.