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    « Future of Ontario Place | Main | JC Penney Update »
    Thursday
    Jul192012

    Nordstrom to Enter Canada in 2014

     

    April 19th 2013

    Holt Renfrew announces flagship store to open in 2016 at Square One in Mississauga

    Square One announced today that it will add a 120,000 square-foot flagship Holt Renfrew store, set to open in the spring of 2016.

    Holt Renfrew will be a new addition to the already sprawling Square One which has been undergoing $84 million renovation.

    Holt Renfrew expects renovations at its Yorkdale location to be complete later this year and are excited to move forward with their expansion plans at Square One.

    "We are pleased to announce a new Holt Renfrew at Square One. West Toronto and Mississauga are growing, vibrant areas and this is a strong move forward in our plan for an exciting fleet of luxury stores across Canada," said Holt Renfrew President Mark Derbyshire. "We look forward to leading a new era of extraordinary shopping experiences in Canada."

    Source: Canada Newswire

     

    April 8th 2013 Announcement:

    Nordstrom Confirms Fifth Canadian Location at Yorkdale Mall

    Nordstrom announced Monday that it will be launching it's fifth Canadian expansion store at Yorkdale Mall. Nordtrom reached a deal with Oxford Properties Group after months of negotiations. The store is set to open in the Fall of 2016, and will be located on Yorkdale Mall's south side. (Globe and Mail)

     

    Sept 13th Announcement:

    Nordstrom To Open In Canada 

    Partnership with Cadillac Fairview brings retailer to locations in Calgary, Ottawa, Toronto and Vancouver

    TORONTO, Sept. 13, 2012 /PRNewswire/ -- Nordstrom announced today plans to start serving customers with its first full-line stores in Canada beginning Fall of 2014. The company is partnering with Cadillac Fairview, one of North America's largest investors, owners and managers of commercial real estate, to lease four stores at premier shopping centres located in Calgary, Ottawa, Toronto and Vancouver.

    Nordstrom will be moving into space that will be vacated by Sears and then renovated at Pacific Centre in Vancouver, Calgary's Chinook Centre, Rideau Centre in Ottawa, with a new-construction store opening in Toronto's Sherway Gardens.

    "It's exciting to finally have this opportunity to better serve our Canadian customers closer to home and we can't wait to open our doors," said Erik Nordstrom, president of stores for Nordstrom, Inc. "Cadillac Fairview has been instrumental in helping us get started in Canada, and we're thrilled to be part of these premier shopping destinations. While we're fortunate to have many loyal Canadian customers who've shopped with us over the years, we recognize we're new here and that we have to earn our customers' business. We look forward to what we will learn and are grateful for the chance to better serve our Canadian customers."

    "We are delighted that Nordstrom has found a home in Canada in our shopping centres, and we welcome them to the Canadian market," said John Sullivan, president and CEO, Cadillac Fairview. "Nordstrom is an excellent fit for all four locations; not only will they transform our shopping centres, but enhance the Canadian retail landscape as a whole."

    Tentative timeframes for the store openings include:

     

    Fall of 2014:   

    Chinook Centre, Calgary — two levels, approximately 140,000 square feet

    Spring 2015: 

    Rideau Centre, Ottawa — two levels, approximately 157,000 square feet


    Pacific Centre, Vancouver — three levels, approximately 230,000 square feet

    Fall of 2016: 

    Sherway Gardens, Toronto — two levels, approximately 138,000 square feet

    Nordstrom also announced it will continue exploring opportunities to open additional full-line stores as well as Nordstrom Racks, its off-price retail division, as part of the company's future expansion into Canada.

     

    Source: Nordstrom Press Release

     

     

    Sept 13th Announcement will make it official Toronto Star

    There are reports citing "Industry sources"  that Nordstrom has pulled the trigger and will be coming north to Canada.

    Specifically they will be replacing Sears at the following locations:

    • Pacific Centre in Vancouver
    • Chinook Centre in Calgary Ottawa
    • Rideau Centre in Ottawa

    They may also be coming to:

    • Sherway Gardens mall in Toronto

    Other reports indicate that Nordstrom is looking at:

    • Yorkdale Shopping Centre in Toronto 1 2
    • Toronto Eaton Centre 3

    These four markets represent 1/3 of the Canadian population and even more of high income shoppers.

    These are all (Except Yorkdale) Cadillac Fairview properties who will see their properties benefit by the traffic that Nordstroms will generate.The malls will attract customers from a wider area than normal as long as they host the only Nordstrom in the market. Retailers in these malls will also benefit by this increase in traffic.

    Nordstrom has expressed interest in Canada, but these are the first indications of which locations they will select: 

    (Feb 16th 2012)

    Erik B. Nordstrom

    "Okay. We've been looking at Canada for over a year now. And it is an attractive market for us. We like it for several reasons. It's -- we have a lot of customers there being as close as we are to the border and the markets are very attractive. It's a very healthy retail environment there. The challenge, as you can probably guess, is the real estate. It's a tough real estate market given the, mainly, the dense urban areas where the population is. So we have an interest in there and we think we could learn a lot that could inform us for other expansion after that, but right now, it's really a real estate question. And at this point, we haven't answered that one."

    Michael G. Koppel

    "And Liz, this is Mike, regarding your question on the $3.3 billion plan, included in that plan, in the tail end of those 5 years is roughly $600 million that relates to potential opportunities in the Canada market as well as Manhattan."

    Source

     

    Here is some background info on Nordstrom

     

    Below is a map of the confirmed Nordstrom Canadian Locations:

     

    View Nordstrom Canadian Locations in a full screen map

     

     

    Current US store count and population by market with Canadian markets shown.

     

    Will post more info as we get it.

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