By the square foot: Who are Canada's most efficient retailers?
Costco and drugstores perform especially well, finds new report
Canadian Grocer staff
Every retailer has their own favourite measure of efficiency. But one metric preferred by retail watchers is sales per square foot–the average dollar volume generated per square foot of retail space in a year.
So who are Canada’s best sales-per-square-foot retailers? A new report from CBRE, a commercial real estate company, might have the answer with a ranking of Canada’s major retailers.
CBRE finds that the most efficient retailer in Canada is the Apple Store. Apple generates a mind-boggling $7,241 in sales for every square foot of retail space it operates in this country.
On the other end of the spectrum, the worst retailer is–or was–Target Corp. Its Canadian division recorded a paltry $98 per square foot. (No wonder Target bailed.)
Among grocery retailers, Whole Foods has the highest sales per square foot at $1,000.
Loblaw (listed under the Weston Group by CBRE) is next with $615, followed by Sobeys $581 and Metro at $530.
Among club and department store retailers selling food, Costco is best. Its sales per square foot are $1,224. Archrival Walmart does $492.
Drugstore retailers perform especially well on the CBRE list. Katz Group, whose banners include Rexall and Pharma Plus does $1,030 per square foot in sales, followed by Loblaw-owned Shoppers Drug Mart at $790.
CBRE compiled its report using 2014 data from the Centre for the Study of Commercial Activity at Ryerson University in Toronto.