GTA malls battle for retail supremacy
Sherway Gardens has announced a $350-million expansion that will add major retailers like Nordstrom.
The mall is about to grow by 210,000 square feet, including four new restaurants and U.S. retail giant Nordstrom.
Sherway Gardens is 41 years old and is ready to fight to keep its customers.
"We are the dominant shopping centre in the west of Toronto and we're going to stay that way," said Clive Baxter of Cadillac Fairview. "We think this is a great strategy to keep us top of mind for shoppers — and our retail clients — and thus the motivation for doing what we're doing."
Next month Yorkdale Shopping Centre will unveil its $185-million expansion — with 30 new stores, including U.S.-based kate spade new york and Ann Taylor.
Retail analysts say higher sales and more space is making Canada attractive to American retailers.
"There's always been market potential in Canada but until recently — and until conditions in the U.S. flattened out as they have - Canada didn't look quite as good as it does now," said Doug Stephens of Retail Prophet Consulting.
While the retailers battle it out, Stephens says it's consumers who will win out.
"We haven't had a lot of choice, so for the consumer it's great news. Hopefully better pricing, better service, and just a lot more selection."