CORNER BROOK, N.L. — The closure of several stores at the Corner Brook Plaza doesn’t have Byron Bellows concerned.
“We tend not to be negative,” said Bellows, the manager of the shopping centre.
Stokes, La Senza, Carleton Cards, Things Engraved and Clair de Lune have all closed up shop at the mall.
The closures of Carleton Cards and Things Engraved were the result of corporate decisions to cease operations across the country.
And they are not the only ones that are doing so.
The online retail industry publication Retail Insider recently reported on over 700 store locations that have or will close in the country this year.
The closures at the Corner Brook mall will add to the vacant spaces already there, including the former Sears location and part of the section that used to house Target.
Still, Bellows remains optimistic.
“I think the future is bright.”
He said the mall is seeing growth with Charm expanding its store to take in the Things Engraved space.
The expansion, he said, shows the company is comfortable in its position in the mall.
“I think the future is bright.”
“We’ve got more than a couple of potential tenants being worked on now,” he added. “Some nice stuff coming, I think.”
He wouldn’t reveal who any of those are, but said a couple could be considered major tenants, along with some smaller stores.
“We’re in good shape, we’re looking good.”
A decrease in shoppers at many retail locations, not just those at the mall, is often attributed to an increase in online shopping, but Bellows said that often doesn’t work the way people think it will.
People sometimes say the things they receive are not what they ordered, Bellows noted, that they are having difficulty with returns or the items don’t fit like they expected.
“The whole online thing is starting to show its real colours,” he said.
Bellows feels those things will help bring shoppers back to the stores in the mall.
And he said there are some positive things happening in the city that will help draw more people in, like the building of the new regional hospital facility.
Business closures are never a good sign, but the president of the Greater Corner Brook Board of Trade doesn’t think the closures at the mall make any grand statement about the state of the economy around here.
“It makes a statement about the shifting in the way people shop," said Keith Goulding.
The fact Carleton Cards and Things Engraved closed nationally are not reflective of the local market, noted Goulding.
Others, like Stokes, are more specialized.
“Maybe the market is not large enough in this province for certain specialized stores.”
Online shopping contributes to the success of businesses like Stokes, he said. But, when stores like Bed, Bath and Beyond and Amazon are so prolific with online shopping, it will have an impact on smaller, niche-type stores like Stokes.
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Goulding also thinks there could be a bit of a coincidental factor at play with some of the closures, suggesting the terms of lease agreements may have been expiring at the same time and the stores chose not to renew.
“You can’t avoid those.”
Like Bellows, he pointed to the positives at the plaza, the expansion of Charm and the rumours he’s heard of other businesses that are coming.
“There’s been a bit of growth up there.”
He also feels there are several things happening in the city that bode well for the retail sector.
Intuit bringing in 40 jobs is a great step forward, he said, adding the knowledge-based economy will do well in the city.
Restructuring of Corner Brook Pulp and Paper's workforce could actually be a good thing, said Goulding.
“Those things are done for a purpose; those things are done for long-term sustainability.”
And those actions have Goulding confident the mill will remain a cornerstone of the economy for a few years to come.
Twitter: WS_DianeCrocker
