Simons to add two Toronto stores, but CEO says retailer still playing the ‘long’ game

Simons has been around for longer than most Canadian retailers, but when it comes to expanding, the Quebec company has never been in a rush.

The $75-million expansion, announced Thursday, is expected to boost Simons’ store count to 19 locations and increase the company’s annual sales of more than $650-million by 15 per cent. Some 400 workers will be hired in time for the new locations to open by winter 2025.

When Peter Simons stepped down from the chain’s top job in March 2022, Leblanc became the first outsider to run the business in five generations. Leblanc, who spent roughly 15 years at Simons and just as many at snowmobile-maker BRP Inc., had his eye on the Toronto sites even before Nordstrom retreated.

Simons had already experimented in the market with a store at Square One, a mall in the Toronto suburb of Mississauga, but the two new locations place it in even more high-profile shopping centres, often doors down from another rival: Hudson’s Bay.While he keeps an eye on rivals, he says he doesn’t want them to be a benchmark for Simons.

Source: News Formal (newsformal.com)

Company Leblanc Toronto Canada Simons Store Market Mississauga Halifax Hudson

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