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Jun 11, 2024

Simons ventures into Toronto with two new stores

Quebec retailer Simons is expanding beyond its home province, with two new stores set to open in Toronto. The company plans to establish locations in the Toronto Eaton Centre and Yorkdale Shopping Centre. The Eaton Centre site, previously occupied by Eaton’s, Sears, and Nordstrom, presents a significant challenge.

 

Nevertheless, analysts are optimistic about Simons’ prospects. Joseph Aversa, a retail management professor at Toronto Metropolitan University, told CBC News that the chain’s strategic growth since appointing its first non-family CEO in 2022 indicates a well-thought-out plan. “Other department stores have failed in those places, [but that does not] necessarily means that Simons is going to fail,” Aversa said.

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