The retailer plans to open a total of four stores in Canada this year.
In the United States, meanwhile, 62% of consumers surveyed by RBC for its Consumer Outlook Index said they plan on spending less this year than last year on back to school shopping, or will spend nothing at all. Nine per cent said they would spend more and 29% said they would spend about the same amount this year on back to school items as they did last year. Market economist at RBC Capital Markets.
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He said the hottest retail shopping category this year is technology, given students' increasing reliance on devices such as tablet readers like the iPad or Kindle, laptops and mobile devices. "There are certain fashion areas that I think are hot," Mr. Baer added. "Jeggings [leggings that look like fitted jeans] and skinny jeans are selling well."
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Ernst Young noted that the shopping season will be somewhat delayed this year in Canada. "People are waiting to see if prices will come down, and Labour Day is later this year than last," Mr. Baer said.
An estimate of a 4% to 5% climb in retail back to school sales in Canada represents a bounceback after an overall sales Saucony Triumph 3
"Hot Topic was already serving thousands of Canadian customers through our website and stores close to the border," said John Kirkpatrick, chief marketing officer of the California based chain, which carries apparel and accessories aimed at teens and tweens. The three Toronto area locations are the only openings planned for now, he said.
retailers are hoping to cash in on what's expected to be a solid back to school season in Canada, while predictions on their home turf are less than rosy.
The news comes as retailers including Hot Topic and Victoria's Secret have opened their first Canadian stores in recent weeks; the Canadian division of Gap, Old Navy and Banana Republic also launched online shopping websites after more than 20 years of operating retail stores here.
stores look north for school sales
Victoria's Secret opened its first location at West Edmonton Mall this month. And Wednesday, supermodels Erin Heatherton, Chanel Iman and Adriana Lima attended a ribbon cutting ceremony at the chain's first Toronto store, which opens Thursday. Saucony Sneakers 76
drop of 4% to 6% Reebok Furylite in categories such as apparel, electronics and other school supplies during the same period of 2009, according to Ernst Young. "That's certainly the trend that we have had for the general economy. had a deeper recession and a lot more issues on the housing front that directly influence consumer psychology and behaviour, and to this date that continues."
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