MARKET WATCH

New Holt Renfrew posting big gains
Sales in several departments see sharp rise
By Lisa Schmidt, Calgary Herald
September 24, 2010

Calgary's Holt Renfrew may still be riding some new store buzz, but the retailer's top executive says service brings customers back.

And apparently in droves, as Mark Derbyshire cites a list of big gains across several of its lines in the downtown location, which tripled the size of its old store when it opened a year ago.

Jewelry sales -- bolstered by its chain-leading Tiffany boutique -- up 44 per cent. Watches are 67 per cent higher.

Women's shoes, now showcased in a prime main floor location, are up 64 per cent.

"We're seeing terrific increases," Derbyshire said in Calgary on Thursday.

He is forecasting double-digit comparable store sales improvements heading into next month.

"That's where we're trending today. The people of Calgary have truly welcomed us well in this facility."

Holt Renfrew will mark its one-year anniversary of the new Calgary store with a gala on Oct. 8 -- an event headlined with a visit by Los Angeles socialite-turned-designer Nicole Richie, kicking off a month of special events.

Holts' opening was among a raft of big name brands to set up or expand in Calgary over the past couple of years, banking on a quick rebound from the economic downturn.

This year, Holts finds itself in the company a new downtown Brooks Brothers store, plus the addition of a greatly expanded Harry Rosen store, which opened earlier this month.

Business is expected to be brisk in that category, say some market watchers.

"You've got the value retailers at one end of the spectrum doing really well, and you have the luxury and high-end retailers thriving," said Mike Kehoe, retail specialist with Fairfield Commercial Real Estate.

"The money is out there; there's a lot of disposable income."

And that is likely to keep attracting new retailers.

"A lot of these guys haven't ever been here, they've always been in Vancouver, Toronto, Montreal and now they've kind of now discovered Calgary," said Rob Walker, a Calgary-based commercial realtor specializing in retail for Colliers International.

But that new competition doesn't faze Holts, which first opened in the city in 1953. Derbyshire, who took over the top position eight months ago, said the retailer sets itself apart with high-end service to match its high-end style.

"Relationships are the backbone of any business," he said.

And the store continues hiring more staff, including seven new "roving concierges" -- known as Holts hosts -- to help guide shoppers through the Calgary store.

Staff now sport a bright magenta name badge, helping foster that personal service, he notes.

"You come in because it's all new and it's exciting, but how do you maintain that?" Derbyshire said.

"It's a list of many things that create that extraordinary experience . . . what brings you back in the future is still the exciting and world-class product that has been hand-selected for the people of Calgary."

"We buy this store with Calgary in mind, how Calgarians want to dress and how they embrace fashion."