Boxing Day recap - part 2

While US retailers experienced what I expect was a horrendous Holiday season, Canadian shoppers delivered some mixed results north of 49.

Toronto's Eaton Centre was very busy the day after Boxing Day, but most with teens and young adults unaware of RSPs and flush with cash.  Hollister and Abercrombie were lined up, and Aeropostale seemed in good shape (the latter was a rare bright light Stateside too).  On the other hand, stores catering to an older demographic (The Gap and Reitmans for example) were barren.  

Vancouver was the victim of more bad weather, with stores clearing out ahead of another storm by about 1PM on Boxing Day.  Boysco owner David Goldman said they muddled through OK with a comp-store gain of 2% over last year - good news, but much shy of their solid growth the past few years.

News from Calgary was that shoppers were still shopping, but being a little more choosy, as opposed to the normal wanton tossing of cash.  Winnipeg seems to be its middle of the country self, not booming, but avoiding down cycles.  In particular, reports are of a strong last couple of days prior to Christmas in that City.

Nationally, Best Buy went out of its way to cite $1million sales in certain stores.  Which tells me overall results were off target.  On the other hand, Mountain Equipment Co-op has had its best Holiday season ever. Perhaps its a flight by outdoor product gift-givers to seek value; Linda Letts, Warehouse One CMO, shares my view that perhaps experiences (adventure travel) will soon take a back seat to tangibles (a tent).

As Boxing Week rolled to a close, the discounts deepened further...