Indochino Apparel, a leader in custom made-to-measure apparel, has introduced its first ever ready-to-wear capsule collection. The new ready-to-wear line that includes suits, blazers and pants, delivers the convenience of an off-the-rack suit with the benefits of minor tailoring adjustments performed on-site at the Indochino showrooms. (Indochino Apparel Inc. – www.indochino.com)…….
The Body Shop Canada is reported to be considering a sale of the cosmetics and skin care business as it struggles to keep up with unusually strong produce demand after it previously announcing plans to seek creditor protection and close over 30 stores, according to Canadian Press. (The Body Shop Canada Ltd. – www.thebodyshop.com)……….
Red Lobster, the popular Orlando, Florida-based seafood chain, is considering filing for bankruptcy protection, according to reports from the Bloomberg News Service. The company reported $12.5-million(US) in operating losses in its fourth quarter 2023. Earlier this year, the company’s Thailand-based investor, Thai Union Group, reported that it was divesting its interest in the company. The full-service casual dining operates over 600 restaurants worldwide. In Canada there are over 25 Red Lobster restaurants in Alberta, Saskatchewan, Manitoba and Ontario. (Red Lobster Hospitality LLC – www.redlobster.com)………
Fast growing cannabis retailer High Tide Inc. reported that April 20, 2024, it generated $1.965 million(Cdn) in total retail gross revenues across all retail platforms, representing a 35 percent increase from the previous Saturday. Celebrating legal cannabis consumption, this year ‘4/20’ was noted as it was the first time the day was celebrated legally in Germany and possibly the final time as a Schedule I drug in the United States. The Government of Canada legalized cannabis in Canada on October 17th, 2018. High Tide’s Canadian bricks & mortar stores reported a 30 percent increase, while sales across its eCommerce platforms reported an increase of 119 percent over the previous Saturday. (High Tide Inc. – www.hightideinc.com)………….
In case you’ve been watching, you’ve been seeing a lot more vacancies appearing in prime properties lately. That’s often a sign that the larger companies, those that can afford to carry expensive real estate, just to keep it out of the hands of a competitor, are starting to feel the pinch.
Since the pandemic, there has been a noticeable change in consumer buying patterns. The eCommerce has been widely accepted and with the threat of a slow economy, customers are being cautious. Credit cards are staying in the wallets.
The resulting slower sales, combined with increases in operating costs, especially occupancy costs and staff, many retailers can no longer afford to carry satellite-type locations that, with the eCommerce activities, are cannibalizing sales in their nearby stores. Many are not renewing their slow performers and a growing number of these ‘too big to fail’ companies are finding themselves pleading for creditor protection.
Keep your eyes open. There are some prime locations to be had. Now is the time when those ‘plugged-in’ brokers, those that can read their market and recognize real estate opportunities before they become fire sales, are invaluable.
Have a great week…………