Mississauga’s Square One Nets a Stunning Amount in Sales
Although the world has not been so kind to retail as of late (multiple chains have been shuttering stores and pulling out of Canada), some malls are still managing to boast impressive sales.
Recently, Square One—Mississauga's most famous and, as of the past few years, most luxurious—recently announced that it netted $1 billion in annual retail sales. According to the shopping centre, that amount signifies the mall's most productive year-over-year (May 2016 to May 2017) performance to date.
The shopping centre, owned by Oxford Properties Group and Alberta Investment Management Corporation (AIMCo), has undergone significant changes over the course of its storied life cycle.
A recent media release links Square One’s banner year with the opening of the 130,000 square foot Holt Renfrew department store and a few other newly opened higher-end stops (including Salvatore Ferragamo, Rolex at Raffi Jewellers and Simons).
“This incredible sales milestone echoes our mission to create a connected and thriving city centre that inspires our community, maximizes the infinite opportunities of our city and resonates beyond our boundaries,” says Greg Taylor, Director and General Manager, Square One, in a statement. “With unprecedented redevelopment, along with the arrival of highly coveted brands to Square One, we will continue to be a passionate and genuine partner in creating and driving positive growth and development in Mississauga’s downtown core. This milestone heralds a new era for Square One as a world-class destination for fashion, lifestyle and entertainment.”
While the luxury wing has been something of a game-changer for the mall, it's welcomed a number of new stores (and lost a handful of others). Some new stores at the shopping centre include Marc Cain, a standalone Urban Decay store, MUJI, Indochino and more.
The mall also made headlines after Cineplex announced that its building a brand new Rec Room location in the centre's old Target space.
Square One is one of Canada’s top ten most productive shopping centres with a current sales productivity of $1,056 per square foot.