National

Future Shop Closure Illustrates Challenges Facing Canadian Retailers

Darpan News Desk The Canadian Press, 30 Mar, 2015 11:52 AM

TORONTO — The sudden closure of Future Shop electronics stores demonstrates the evolution taking place in the Canadian retail space amid increased competition from online shopping, analysts say.

Bruce Winder, a senior adviser with retail advisory firm J.C. Williams Group, says to survive, brick-and-mortar retailers will need to create engaging shopping experiences to lure customers.

Best Buy, the U.S. company that bought Future Shop in 2001, announced on Saturday that it was closing 66 Future Shop locations and rebranding the remaining 65 as Best Buy stores.

Future Shop is the latest casualty in an increasingly sparse Canadian retail landscape.

Target is in the process of shutting all 133 of its Canadian stores.

Clothing retailers Mexx and Jacob are also vacating outlets, and Sony announced plans in January to close all 14 of its Canadian locations.

Prev Next

MORE National ARTICLES

Mba Premier Greg Selinger back to work after barely surviving leadership vote

WINNIPEG — After barely surviving a leadership vote, Manitoba Premier Greg Selinger joked about finally being able to catch up on some laundry and housework.But the premier who garnered just 51 per cent support from delegates on Sunday has a much greater challenge — reuniting a party that has been badly divided in time for next year's election.

Mba Premier Greg Selinger back to work after barely surviving leadership vote

Safety concerns rise in the wake of a CN train derailment in northern Ontario

GOGAMA, Ont. — Another train derailment in northern Ontario has added new fuel to the ongoing debate over whether rail is a safe way of transporting crude oil.First Nations and environmentalists are among those expressing alarm over Saturday's derailment of a CN Rail train that caused several tank cars carrying crude oil to catch fire and spill into a local river system.

Safety concerns rise in the wake of a CN train derailment in northern Ontario

Housing starts down in February: CMHC

OTTAWA — Canada Mortgage and Housing Corp. says the annual pace of new housing construction slowed down in February, with fewer multiple-unit projects such as condos and apartments. CMHC says the seasonally adjusted annual rate decreased to 156,276 units in February, down from 187,025 in January — an below the estimate of 179,000 units.

Housing starts down in February: CMHC

B.C. sea cadet volunteer charged with child luring; RCMP seek potential victims

SURREY, B.C. — Members of two naval cadet programs in British Columbia are being asked to help police after a former program volunteer was charged with child luring. The RCMP issued a news release Friday that said Victor Overfield, 27, of North Vancouver was arrested last December. He was charged with one count of child luring and one count of sexual touching

B.C. sea cadet volunteer charged with child luring; RCMP seek potential victims

Canadian pastor detained, charged in North Korea, Ottawa tells his family

MISSISSAUGA, Ont. — A Toronto pastor who lost contact with his family over a month ago while on a humanitarian mission in North Korea has been detained in that country, a spokeswoman for the man's family said Thursday.

Canadian pastor detained, charged in North Korea, Ottawa tells his family

Chemical fire at Vancouver port fire out as investigation begins

VANCOUVER — A chemical fire at Vancouver's port was declared fully extinguished Thursday night after burning for more than 24 hours, allowing investigators to start their work to determine what ignited it.