U.S chains bringing change to Toronto retail
By Victoria Quiroz
The face of retail in downtown Toronto is about to change.
On Monday it was announced that another U.S. retailer, Saks Fifth Avenue, will be taking over the Hudson’s Bay flagship location at Yonge and Queen.
As the project plans stand, Cadillac Fairview will buy the property from the Hudson’s Bay Company, expanding the Eaton Centre into the old Simpson’s department store building.
One block north, meanwhile, the other end of the Eaton Centre is geared to see some drastic changes in the upcoming years, as well.
Retail giant Sears Canada, announced it would be closing its Eaton Centre location last October. Sears took over Eaton’s flagship department store in 2002.
Now taking its place will be American, high-end retailer, Nordstrom.
The new department store is set to open in 2016, with other locations planned for Sherway Gardens and Yorkdale Mall.
The developments will be the first foray into the Canadian market by both Saks and Nordstrom retailers.
Below is a timeline highlighting the history of these two key Toronto retail locations.