Canadian fashion and home decor retailer Simons has announced plans to open two new department stores in Toronto in 2025, the Globe and Mail has reported.
The new stores will be located in Yorkdale Shopping Centre and the Eaton Centre, in the area previously occupied by the US chain Nordstrom, which withdrew from the Canadian market in 2023.
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The Quebec-based company is investing $75m in the ventures.
The Yorkdale store will span 118,000ft² on two floors and the Eaton Centre location will cover 110,000ft² across three floors, making them among the largest Simons stores in the country.
Simons reported record sales exceeding $650m in 2023, with two-thirds generated from its physical locations.
The addition of the two new Toronto stores is projected to increase the company’s total sales by 15%.
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By GlobalDataTo support the new locations, Simons plans to hire around 400 new employees, the Financial Post reported.
The retailer began expanding outside Quebec in 2012 and now operates 17 locations across Canada.
Despite having only one store in the Greater Toronto Area at the Square One Shopping Centre in Mississauga, Ontario, Toronto remains the company’s second-largest market, bolstered by strong online sales.
The new stores will mark a significant expansion for the 184-year-old retailer in the Greater Toronto Area, underscoring a strong commitment to bricks-and-mortar retail.
The investment from Simons also comes at a time when consumer spending is cautious, particularly on non-essential goods.
The company has been enhancing its digital and e-commerce capabilities, constructing an automated fulfilment centre and opening new stores in Pointe-Claire near Montreal and in Halifax.
Simons’ total investment, including the new Toronto stores, will reach $300m over five years.
Simons CEO Bernard Leblanc said: “Clearly, we see consumers are a little bit more frugal right now, but we’re still seeing year-over-year growth, more modest right now for the first quarter, but still slight growth.”
