Canadian Retail Thread

[WhipperSnapper]

Originally Posted by MonctonRad

Indeed. Statistically half the population has an IQ less than 100. Not everyone is cut out to be a computer coder or a software engineer (let alone a rocket scientist or brain surgeon). A future where 50% or more of the population is unemployable could be a very sad and dangerous place.

We make service workers unemployable at our own peril.

The smart and highly educated should be as wary about this possible future.

[Djeffery]

Originally Posted by MonctonRad

Indeed. Statistically half the population has an IQ less than 100. Not everyone is cut out to be a computer coder or a software engineer (let alone a rocket scientist or brain surgeon). A future where 50% or more of the population is unemployable could be a very sad and dangerous place.

We make service workers unemployable at our own peril.

I know lots of UPS, Fedex and Purolator drivers making 70-100k a year. Should we sacrifice good paying jobs like that for 2 or 3 times the number of minimum wage paying retail jobs?

[MonctonRad]

Originally Posted by Djeffery

I know lots of UPS, Fedex and Purolator drivers making 70-100k a year. Should we sacrifice good paying jobs like that for 2 or 3 times the number of minimum wage paying retail jobs?

With driverless commercial vehicles on the horizon, your well off truck drivers will soon be unemployed too.........

[WhipperSnapper]

The legalities and costs to implementation a system of driverless commercial vehicles makes me think we will see entire accounting, data analysis departments replaced by AI before we see driverless trucks.

Workers sitting a workstation facing a screen are probably more vulnerable to AI than labourers as AI is further along than robotics. And, it's expensive compared to human labour.

[Djeffery]

Yeah, it's not going to be cheap to develop a system where the truck can drive in to your neighbourhood and walk the package to your door itself. Same as the drones we were supposed to have by now.

[SpongeG]

an interesting look at BB&B

• Video Link

[SpongeG]

Indigo shares drop on earnings miss as it works through strategy shift

The Canadian Press
Published Wednesday, August 14, 2019

TORONTO -- Shares of Indigo Books & Music Inc. were down more than 14 per cent in late-morning trading Wednesday as the company missed earnings expectations amid a strategy change.

The Toronto-based retailer said its revenue dropped and its loss widened in its first quarter as it worked to cut promotions and low-margin merchandise, as well as remodel stores and offerings.

CEO Heather Reisman said the transition pressures have led to lower sales, but are already helping with margins.

...

https://www.ctvnews.ca/business/indi...hift-1.4549423

[SpongeG]

an interesting read about Miniso

MINISO's Miyake Junya Talks about Expansion & Brand Journey

In an interaction, MINISO's Co-founder and Chief Designer Miyake Junya shares the brand's philosophy, vision and expansion plans


Pooja Singh
Former Features Editor, Entrepreneur Asia Pacific
August 12, 2019


Image credit: MINISO Co-founder and Chief Designer Miyake Junya

Miniso, which has a presence in over 70 countries, is on an expansion spree. The Japanese designer and lifestyle brand, known for its quality products within an affordable price range, has forged an empire of over 2,600 stores worldwide through self-owned stores and franchises. It plans to open 800 stores in India by 2020. Launched in 2013, the brand philosophy of ‘simplicity, nature and good quality’, has seen a growth rate of 80-100 stores per year. To achieve these goals, MINISO has received multiple investments through a series of funding, with the recent one in October 2018 by Tencent Holdings of USD 147 million in Series A funding.

In an interaction, MINISO’s Co-founder and Chief Designer Miyake Junya shares the brand’s philosophy, vision and expansion plans.

What was the inspiration behind MINISO?

MINISO was founded by me and young Chinese entrepreneur Ye Guofu at the end of 2013. At that time, major financial markets such as Japan, Europe and the US were in economic downturn. Consumers generally wanted to buy products with good quality but low price, and aesthetic pursuit was more inclined to minimalism. In order to meet the new consumer demand and fill the gap in the market, MINISO was born.

How did you meet Ye Guofu?

We met in 2013 through a friend’s introduction. At that time, Ye was doing market research in Japan, Europe and the US, etc, and needed business opportunities for his second venture. We got to know each other and hit it off immediately. Ye has a deep understanding of the retail market and strong execution ability. We have complementary advantages in many aspects and cooperate smoothly. That’s how MINISO exists.

...

https://www.entrepreneur.com/article...oS8k3Tjd2lf8-E

[SpongeG]

HBC has sold off Lord & Taylor

Lord & Taylor sold for $100 million to clothing-rental company Le Tote

Lord & Taylor, one of the nation's oldest department stores, is being sold for $100 million to a rental clothing company.

Le Tote is buying the company from Hudson's Bay Co., which gets a minority stake in Le Tote and will control two seats on its board.

Lord & Taylor, founded as a dry goods store in 1826, has struggled recently as more people move their shopping online. The upscale chain has closed several stores nationwide, leaving 38 active today.

...

Le Tote will pay Hudson's Bay $75 million in cash when the deal closes, which is expected to happen before the holiday season. It will also pay Hudson's Bay $25 million in cash after two years.

Hudson's Bay, based in Canada, plans to invest in its better-performing businesses like Saks Fifth Avenue.

...


https://www.cbsnews.com/news/lord-ta...mpany-le-tote/

from This CBC article https://www.cbc.ca/news/business/hbc...262395?cmp=rss

HBC, meanwhile, will retain control of all the real estate assets that Lord & Taylor stores are sitting on.

[J.OT13]

HBC took a massive loss! Don't know how much they paid for Lord & Taylor in 2008, but it must have been well over $1 billion considering it was sold two year earlier for $1.1 billion.

It was a colossal dumb move to buy in 2008. It was the start of the recession, department stores had been on the decline for a few decades already.

[Airboy]

Wonder who this will hurt more MEC or SportCheck


Decathlon enters the Canadian Market aggressively.


https://www.retail-insider.com/retai...ansion-feature

[le calmar]

Originally Posted by J.OT13

HBC took a massive loss! Don't know how much they paid for Lord & Taylor in 2008, but it must have been well over $1 billion considering it was sold two year earlier for $1.1 billion.

It was a colossal dumb move to buy in 2008. It was the start of the recession, department stores had been on the decline for a few decades already.

After Home Outfitters, HBC are now closing the last two Zellers stores in Ottawa and Toronto.

[Harrison]

Originally Posted by Airboy

Wonder who this will hurt more MEC or SportCheck


Decathlon enters the Canadian Market aggressively.


https://www.retail-insider.com/retai...ansion-feature

Awesome to hear, love Decathlon (excellent stock and even better price). Visited their stores in Singapore and Mexico City and the product range and pricing was consistent between the two. Edmonton wasn't mentioned in the article but hopefully they are looking at opening up here too in the near future.

[Airboy]

Originally Posted by Harrison

Awesome to hear, love Decathlon (excellent stock and even better price). Visited their stores in Singapore and Mexico City and the product range and pricing was consistent between the two. Edmonton wasn't mentioned in the article but hopefully they are looking at opening up here too in the near future.

Yah noticed the lack of mention as well. Hard to say what will be rolled out though.

[Nathan]

Originally Posted by J.OT13

HBC took a massive loss! Don't know how much they paid for Lord & Taylor in 2008, but it must have been well over $1 billion considering it was sold two year earlier for $1.1 billion.

It was a colossal dumb move to buy in 2008. It was the start of the recession, department stores had been on the decline for a few decades already.

IIRC, they sold the flagship Lord and Taylor building in New York for the high hundreds of millions, so it might not be as much of a bath as one might think.

[SaskScraper]

Originally Posted by Airboy

Wonder who this will hurt more MEC or SportCheck


Decathlon enters the Canadian Market aggressively.


https://www.retail-insider.com/retai...ansion-feature

speaking of MEC and Sport Chek...
Saskatoon's Midtown Plaza's old food court is being renovated to make way for MEC to move in next Spring. Will be interesting to see how Sport Chek on 2nd level of the mall handles that.

"George Bevan, director of store development for MEC, said that the Vancouver-based company has been actively looking for more than five years for a suitable space to open a location in Saskatoon & said Saskatchewan has more than 60,000 MEC members, including 25,000 in Saskatoon, who have been asking for a Saskatchewan location for more than a decade."

https://thestarphoenix.com/news/loca...court-location



• Video Link

...The General Manager of Midtown Plaza sounds stoned

...anyway, the new Midtown Common Food Court opened last month apparently,
$80 million renos in the Mall continue...

• Video Link

[SpongeG]

MEC requires a membership, I've only been inside a store once cause the person I was with was a member. Not into what they sell anyway. That could be a deterrent.

[drew]

Originally Posted by SpongeG

MEC requires a membership, I've only been inside a store once cause the person I was with was a member. Not into what they sell anyway. That could be a deterrent.

The lifetime membership at MEC is $5...

Decathlon seems like it would be more of a competitor to SportChek and not so much MEC.

MEC is heavily geared towards outside activities, not "sports".

[yaletown_fella]

Originally Posted by WhipperSnapper

The legalities and costs to implementation a system of driverless commercial vehicles makes me think we will see entire accounting, data analysis departments replaced by AI before we see driverless trucks.

Workers sitting a workstation facing a screen are probably more vulnerable to AI than labourers as AI is further along than robotics. And, it's expensive compared to human labour.

I bet that call center work, radiology, low level accounting/bookkeeping and low level legal work will be almost totally automated in a few years before the approvals are there for automated trucking.

Ive heard human drivers will take over for the "last ten miles" of trucking in urban areas where there are risks are a lot higher while the AI program will drive the trucks in sparsely populated rural stretches of highway.

[niwell]

Originally Posted by yaletown_fella

Ive heard human drivers will take over for the "last ten miles" of trucking in urban areas where there are risks are a lot higher while the AI program will drive the trucks in sparsely populated rural stretches of highway.

That seems likely to me. I was having a conversation about this the other day where we were thinking about how many rules a truck driver has to break to make virtually any delivery in an urban area. Until we can codify what rules are allowed to be bent and what aren't, there's going to be a human at the wheel for the last little bit.