Latest news with #departmentStore
New York Times
5 hours ago
- Business
- New York Times
Quote of the Day: Retail ‘Piece of Canada' Shutters After 355 Years
'It felt like going to Tim Hortons and getting a doughnut, except you were buying blankets or slippers.' BRYAN HIGGINS, who was heading for a farewell visit to a Hudson's Bay Company store in Ottawa. The company, a fixture in Canada for 355 years and the country's last traditional department store chain, is shutting down.
CTV News
11 hours ago
- Business
- CTV News
British Columbians look back as the Bay closes for good
Vancouver Watch Shoppers at the Park Royal Hudson's Bay location were feeling nostalgic as the historic department store's liquidation sale came to a close.
CTV News
21 hours ago
- Business
- CTV News
Redesigning the Bay's old stores come with challenges and opportunities
TORONTO — When Hudson's Bay began liquidating all of its stores and hunting for a potential new owner, Ruby Liu was determined not to let Canada's oldest company disappear. The B.C. mall owner made an offer for the company in hopes of restoring it to its former glory, but when Canadian Tire was chosen (court approval pending) to buy its name and trademark stripes, Liu's plan was foiled. Yet she didn't give up. Instead, she brokered a deal to take over up to 28 of the leases held by Hudson's Bay and its sister Saks businesses in Alberta, B.C. and Ontario and transform them into 'a new modern department store.' But making the jump from vision to reality won't be easy, even with her persistence and the billions of dollars reportedly at her fingertips. 'There is a lot of research, a lot of planning, a lot of capital, a lot of logistical challenges, inventory, branding and people that need to be figured out,' said Jenna Jacobson, the Eaton Chair in Retailing at Toronto Metropolitan University. Because Hudson's Bay sold off its real estate years ago, Liu's first task once the liquidation sales end Sunday will be convincing the landlords who own the massive spaces to get on board with her plan or it's unlikely a court will rubber stamp it. Several landlords have told The Canadian Press they are awaiting more details before they decide what to do about Liu, who declined to comment for this story. Don Gregor, an executive vice-president at Aurora Realty Consultants not involved with the deal, suspects their approval will be hard to win. He reasons that landlords like to be in control and usually don't want to have tenants selected for them, especially tenants who will pick up 'trophy leases' with the kind of deep concessions only a business as storied as the Bay could extract. Many of those leases date back to the very inception of the malls or properties they cover and would have rent charges Gregor believes were 'well-below market.' He also figures they had clauses restricting what other tenants could move in and what else could be built on the site. '(Landlords) would have loved if HBC had gone bankrupt and hadn't just fallen apart totally and they just get the space back because all the restrictions that anchor tenant held in that old lease would have gone away,' he said. 'Now, there's going to be a negotiation, like a dance between the two parties, where they have a little bit of give and take.' Liu will come to the table with plenty of business experience. She is said to have made billions through real estate developments in China before she headed to Canada. Once here, her Central Walk business bought British Columbia malls Tsawwassen Mills, Mayfair Shopping Centre and Woodgrove Centre, as well as Arbutus Ridge Golf Course. The shopping centres feature plenty of Canadian mall staples along with rarities like Bass Pro Shops, L.L. Bean and even café kiosks powered by robot baristas. Gregor thinks Liu operates 'very good malls' but will need a 'wonder team of lawyers' to advance a deal as significant and complex as the Bay one. One thing she'll have going for her is that landlords don't like to leave big pieces of their properties in limbo, said J.C. Williams Group retail strategist Lisa Hutcheson. 'In some ways, she makes it easier for them to not have to be worrying about how they're going to fill that large square footage,' she said. If they approve of Liu, they will also have someone to shoulder repairs the Bay neglected to do, Hutcheson said. A handful of its stores temporarily closed last summer because of air conditioning troubles and even more have been plagued with broken escalators for years. Gregor estimates it would cost half a million dollars to repair the HVAC system at just one of the Bay's biggest locations. Elevator fixes or replacements could take a year, he said. And that's on top of the $100 to $150 per square foot he thinks will have to be spent — at minimum — to shape the spaces. 'These stores are several hundred thousand square feet, and that takes a lot to reposition,' Hutcheson agreed. She pointed out La Maison Simons is spending about 18 months transforming some former Nordstrom locations in Toronto. 'And that's with a fully baked concept that they're going off of,' she said. Liu will have to generate a new concept that can go head-to-head with long-established department stores like Simons and Holt Renfrew and the plethora of options online. That will likely mean brokering relationships with suppliers Hutcheson believes will be 'a little bit nervous' because they are still reeling from millions in losses that came from the fall of the Bay. It will also mean hiring a large workforce that will devote themselves to an untested brand and then sell it to customers. Liu has promised to give suppliers and vendors who worked with Hudson's Bay priority when selecting partners for her new venture. She has also said she will prioritize hiring from the Bay's workforce, which stood at 9,364 staff before its demise. 'But between now and when I expect (Liu's) doors will open, will be a gap, and many of them will find jobs,' Hutcheson said. Despite the battery of challenges Liu will have to overcome, Jacobson said the efforts could be worth it for both her and her customers. If Liu uses the opportunity to mirror the overseas department store model with new brands, supermarkets, restaurants, salons, entertainment and other digital experiences, Jacobson thinks Liu will 'usher in a new form of retail' the Canadian market sorely needs. 'If you look at the Chinese department stores, they often act like more of a destination in and of themselves than what we typically see in a Canadian or North American market,' Jacobson said. 'It's a destination where people could spend a significant amount of time ... which is going to be needed in order to have a successful model moving forward.' This report by The Canadian Press was first published June 1, 2025. Tara Deschamps, The Canadian Press
Yahoo
24-05-2025
- Business
- Yahoo
9 pictures which tell story of famous Glasgow store with link to Rennie Mackintosh
IT WAS one of the most stylish and elegant department stores in Glasgow. For decades, Pettigrew and Stephens occupied a prominent chunk of Sauchiehall Street in the city centre. The store opened in 1888, when Glasgow drapers Andrew Hislop Pettigrew and William Henry Stephens entered into partnership. It expanded and developed over the years, and by the 1920s, the premises stretched from Sauchiehall Street to Bath Street, along West Campbell Street – where a gym and the entrance to Sauchiehall Street car park is now. The Bath street entrance to Pettigrew & Stephens, 1923 (Image: Glasgow City Archives) There is a connection to Charles Rennie Mackintosh too. On early designs, when the building was expanding to include a new tearoom and marble stairs, his notes appear on drawings by the firm he worked for, John Honeyman & Keppie. Some of the later features seem to echo other examples of his work, too, particularly in the tearoom, though he is not credited as a designer on the plans. READ NEXT: 'We're so lucky to have the Citz': Free drama lessons as Glasgow theatre re-opens 'Another Glasgow first': New display marks 200 years of world's original comic 'Gran's report card' discovery reveals story of 'lost' Glasgow school By the early 1900s, the seven-storey shop was the biggest department store in Scotland, and drawing in legions of shoppers. You could buy almost anything - clothes, millinery, confectionery, carpets, furniture, ironmongery and china. School uniform display... (Image: Glasgow City Archives) It was also the place to shop for school uniform, and the giant window displays would be full of smartly-blazered mannequins and ties of all colours as the summer holidays drew to a close. It was high-tech, too, with an electric lift, sprinklers and a pneumatic tube system for sending cash between counters and the central office. The tearooms were on the second floor, beautifully designed and decorated, the perfect place for ladies who lunched in between bouts of shopping. In 1926, Pettigrew and Stephens was acquired by the Scottish Drapery Corporation which in turn was acquired by House of Fraser in the 1950s. The building was completely demolished in 1971 for the Sauchiehall Street Centre shopping complex. (Image: Newsquest) This woman on the left, who is a 'Lux washability consultant', was at the store in May 1938 to provide some free advice on the washing of fine fabrics. (Image: Newsquest) In September 1939, as war began across Europe, Pettigrew and Stephens took some precautions against the potential for flying glass and debris in its Sauchiehall Street store. (Image: Newsquest) In 1950, sales still brought people out in force. This picture, taken on Tuesday, January 3, shows shoppers waiting more or less patiently in the cold and rain for the doors to open at Pettigrew and Stephens. Hat sale at Pettigrew & Stephens (Image: Newsquest) Exactly a year to the day later, the New Year sales kicked off in style as shoppers flocked to pick up a bargain. (Image: Newsquest) Five year old Jimmy Paterson tries on a new coat at the Pettigrew and Stephens sale in 1956. (Image: Newsquest) Four-year-old Kay McAleney, from Coatbridge, makes friends with a cuddly Pluto as Christmas shopping begins in the store in December, 1955. The store was lit up with lights and fancy decorations. Do you remember Pettigrew and Stephens? Send us your memories and photos by email to or write to Ann Fotheringham, Glasgow Times, 125 Fullarton Drive, Glasgow G32 8FG.
RNZ News
22-05-2025
- Business
- RNZ News
'End of an era': Shoppers mourn Smith & Caughey's closure after 145 years
The business announced it would be shutting down after 145 years. Photo: RNZ / Marika Khabazi Shoppers in Auckland are mourning the closure of Smith & Caughey's department store on Queen Street. On Wednesday, the business announced it would be shutting down after 145 years. Heart of the City chief executive Viv Beck said the situation was devastating. "It's very sad for the family, the staff, and a major loss for Queen Street." She said once the City Rail Link opened, the building would be in a great location. But as well as ongoing construction work, she said Auckland Council and Auckland Transport limiting vehicle access on the street was making it harder for businesses in the area to survive. "We've already lost around 44 percent of the cars coming in during the morning peak since 2015 and yet there's a fine for people going into a stretch of Queen Street just by Smith & Caughey's. "We know people for instance with disabilities can't get through that stretch to get to Smith & Caughey's. "It's also our night time entertainment area. These decisions are not grounded in common sense or economic viability and we've been appealing to transport and council to do something. This has to be a wake-up call for them." Waitematā and Gulf Ward councillor, Mike Lee, agreed AT and the council were partly to blame for Smith & Caughey's demise. He said it was gutting to see the "commercial life being squeezed out" of the once thriving street. "This [the store's closure] is a massive body blow for Queen Street and the viability of retail and the whole social ambience. "Smith & Caughey's have bravely battled on for years now, but this forever construction, forever disruption, perceived lack of safety, the filthy streets, all of that is a turn-off for shoppers." One shopper RNZ spoke to, Jane Etheridge, said she was devastated to see the end of the store's famous Christmas display and Santa's Grotto. "It's unbelievably sad. It's been around for such a long time and is part of New Zealand's heritage. It's one of the few heritage brands we have. "I grew up coming here every Christmas looking at the window displays and coming to the grotto. I bring my children here and there's not anything else like it." Meredith Townsley Fenton said it was a shame given the store's long history. "It's the end of an era. I was talking to one of the staff members and her mother brought her bridal lingerie there in the 1920s. "All of Queen Street has really changed." Some people including Allan Fitzgerald had noticed a declining number of people in the area. "My wife and I, my mother, and grandmother all used to shop here. "I look around and where are the cars? Where are the people? They're not carrying shopping bags. "It's really disappointing. But I fully understand why they're having to close." The future of the partially heritage-protected building owned by private shareholders is unknown. Auckland Council said it did not want to speculate on what it would be used for. Smith & Caughey's declined to comment. Sign up for Ngā Pitopito Kōrero, a daily newsletter curated by our editors and delivered straight to your inbox every weekday.
