Canadian Tire-owned FGL Sports has reportedly purchased the lease to the Chapters Books flagship location at Robson and Howe streets.
Jane Shaw, a spokesperson for Canadian Tire Corporation, told Vancity Buzz that Sport Chek will takeover the lease at the Infinity building’s retail space.
FGL Sports is based in Calgary and operates brands that include Sport Chek and Atmosphere. News of the sporting goods’ move into the three-storey space also coincides with recent chatter in the local retail industry that Holt Renfrew’s Vancouver flagship store is exploring the possibility of expanding into Pacific Centre’s Sport Chek and Atmosphere spaces.
This would increase Holt Renfrew’s area from 137,000 square feet to 180,000 square feet and allow the luxury retailer to compete with the upscaling of the Hudson’s Bay Company and the nearby Nordstrom flagship opening this fall.
It is not known how exactly the Robson space will be utilized by FGL Sports, but there is speculation that multiple brands will occupy the space. Sport Chek will likely consume the most space in the store while the remaining areas will be divided between Atmosphere and possibly other FGL Sports brands such as National Sports, Hockey Exports, S3 and Nevada Bob’s Golf.
Earlier today, Indigo announced it would be shutting the doors to its Chapters Bookstore Robson Street flagship location on June 30, 2015.
In a released statement, Indigo Chief Executive Officer Heather Reisman said rising rents were to blame, but it hopes to open another bookstore nearby later this year:
“As we gain great momentum with Indigo’s transformation strategy we are continuing to review all elements of our operations. With a very significant rent increase recently at our Chapters Robson store, the new terms are simply untenable for us to stay in that location. An increase of this magnitude would quite simply make this vibrant, profitable store unprofitable. As a result, we are actively pursuing another location to serve the Robson trade area which we fully intend to open in 2015. In other key markets we are also looking at new real estate opportunities for Indigo that will best serve our unique needs.”
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