A Toronto shopping destination has found itself at the top of a new list, thanks to a report from the Retail Council of Canada.
The Canadian Shopping Centre Study found that Yorkdale Shopping Centre is Canada’s most profitable mall. It generated $1,651 per square foot in the months ending in August 2016 and was the only mall in Canada to crack the $1,600 mark.
Two malls in Vancouver took second and third place, to round out the top three.
The CF Toronto Eaton Centre also took top spot in the study as Canada’s busiest mall, recording 48,969,858 people that walked through its doors in the annual pedestrian count category.
Comparing Canadian mall profitably to that in the US, the study also found that across the country, on average, Canada’s malls are more “productive” than those in the US.
“Shopping centres are communities,” said Diane Brisebois, RCC’s president and CEO. “Their potential to attract visitors impact the growth and success of our retailers across Canada.”
The Canadian Shopping Centre Study, the RCC said, is the first “Canadian consolidation and analysis of the critical metrics retailers use to understand how shopping centres across Canada rank.”