Two chains adumbrated Wednesday that they will be closing their Canadian locations, addition assurance of alteration times aural the retail industry.
Schurman Retail Group, the buyer of greeting agenda companies Carlton Cards and Papyrus, is closing all 76 of its retail food in Canada, forth with its 178 locations in the U.S.
Freemark Apparel Brands Group, the Canadian aggregation that operates 24 Bench locations in Canada, is additionally reportedly planning to shut bottomward all their stores.
The Papyrus closures will appulse 1,400 advisers and will appear over the abutting four to six weeks, Schurman Retail Group CEO Dominique Schurman told the Financial Post in a statement.
Schurman said the “difficult decision” came afterwards “efforts to realign our … food to fit today’s arcade environment.”
Michael LeBlanc, chief retail adviser for Retail Council of Canada, said the retail industry has been “transformed,” and alone companies will be alteration with it. “There’s not a lot of allowance for absurdity or choice,” he said.
LeBlanc said some companies may accomplish the accommodation that a standalone abundance isn’t able abundant for their brand, and instead focus on alive with their partners.
This is the case for Carlton Cards, which continues to be awash in added partnering stores, including Shoppers Drug Mart.
LeBlanc additionally acclaimed that online retail advance has fabricated an appulse on sales as well. By best estimates, online sales fabricated up about 10 per cent of all retail sales in Canada in 2019.
But LeBlanc cautioned adjoin agitation over assorted abundance closures at one time. This time of year, he said, is a accepted one for companies to advertise closures. Many companies will delay until afterwards the holidays to accomplish any final decisions, or to accumulation as abundant as they can from the anniversary blitz afore closing for good.
“I don’t anticipate the broader industry is at risk, it isn’t a retail apocalypse,” LeBlanc said.
He referenced the 2019 Canadian Arcade Centre Abstraction as affidavit of this.
“In Canadian arcade malls, abundance went up,” LeBlanc said.
The abstraction analyzed the top 30 malls beyond Canada, and affected abundance based on sales per aboveboard foot. Only nine of the 30 malls saw a abatement in abundance compared to 2018.
While online arcade has created antagonism for arcade malls, LeBlanc said that the top malls in the abstraction invested “hundreds of millions of dollars” into architecture up the acquaintance of the arcade centre.
LeBlanc said that on a spectrum with ability on one ancillary and acquaintance on the other, online arcade acreage on the ancillary of efficiency, and so brick-and-mortar retailers are aiming for an added experience.
“Going to a abundant arcade capital with abundant retailers, there are a lot of activities activity on about you, there are people, there are restaurants,” he said.
Ultimately, LeBlanc said that changes in retail are specific to the company. “There are bodies departure food and aperture stores. There are bodies adage they’re bigger off aloof online. And there are bodies adage they charge concrete food to attract barter and clear their brand.”
Following the Bench closures in Canada, the aggregation affairs on absorption on their online business and broad customers, Freemark Apparel Brands co-president Lawrence Routtenberg told BNN Bloomberg on Wednesday.
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