GTA malls battle for retail supremacy
by Marivel Taruc CBC News
Posted: Oct 23, 2012 7:26 PM ET
Last Updated: Oct 23, 2012 8:49 PM ET
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."
Latest Toronto News Headlines
- Toronto councillors say Ford scandal not over
- One Toronto city councillor says he doesn't believe Rob Ford and that the mayor should resign. And a top Ford supporter says he doubts the scandal is over. more »
- Big-time lobbyists attended pricey Mammoliti bash
- Two of the most powerful lobbyists at city hall attended a $5,000-a-table fundraising soirée involving Coun. Giorgio Mammoliti, CBC News has learned, raising questions about whether all three people followed municipal rules governing their conduct. more »
- Torontonians speak out on Rob Ford controversy
- Ford needs to speak up on allegations surrounding a video purporting to show the mayor smoking crack cocaine, say people asked on the streets of Toronto. more »
- Man charged 20 years later in sexual assault of 9-year-old girl
- Toronto Police have arrested a man in connection with a sexual assault of a 9-year-old girl that happened more than 20 years ago. more »
Top News Headlines
- Washington police blame bridge collapse on Alberta trucker
- Royal Bank pledges not to outsource jobs for cash savings
- Canada ranks 3rd last in paid vacations
- Group calls for probe of Tory database used in election robocalls
- Executive committee calls on Ford to address crack video allegations
- Rob Ford fired chief of staff for telling mayor to 'get help'
- Alleged Ford crack video seller not responding to calls
- Toronto Mayor Rob Ford denies crack cocaine allegations
- Toronto Mayor Rob Ford fires chief of staff
- Texting during movie lands complainant in trouble
- Giorgio Mammoliti faces questions over $5,000-a-table event
- 15 teens on school hiking trip found after night in wilderness
- Jimmy Kimmel, Jon Stewart crack jokes about Rob Ford