Despite controversies in recent years that range from the founder’s negative comments about women’s bodies to see-through pants to recalls of dangerous hoodie drawstrings, Vancouver’s Lululemon Athletica Inc. is one of the most productive retailers in Canada, according to a CBRE ranking.
CBRE defines productivity in terms of sales per square footage. Annually, Lululemon rakes in $2,961 per square foot, on average. This is second only to Apple, which looms well ahead of its competition at $7,241 per square foot.
Costco Wholesale Corp. rounds out the top three, with $1,490.
The Canadian average is $673 per square foot, which is up 5.8% compared with last year.
“Recent store closures have left a dark cloud over the Canadian retail landscape,” CBRE said in a release. “However, this is not the full picture.
“Withough taking away from the sizable impact retailer failures can have on a property Canadian shopping centres continue to post reasonable growth as indicated by retailer sales per square foot.”
Other notable Vancouver-area-based retailers on the list were Best Buy Co. ($800 per square foot) and Mountain Equipment Co-op ($770).
By comparison, the failed Target Canada chain pulled in a mere $98 per square foot on an annualized basis. Fledgling retail Sears Canada sells an average of $213 per square foot.
“The variance in sales productivity demonstrates the considerable divergence that currently exists in the Canadian marketplace,” CBRE said.
The CBRE list was compiled based on data from the International Council of Shopping Centres.
(List: CBRE)
