Hundreds of people lined up around the historic Maple Leaf Gardens this morning to be among the first to shop at a new flagship Loblaws store.
Toronto’s legendary arena is reopening as a destination primarily for foodies, rather than sports fans, though the building will house a full-sized ice rink, home to the Ryerson Rams hockey team that seats 2,600.
Grocery giant Loblaw Companies Ltd. calls the complex its new “crown jewel” in the heart of downtown Toronto, which will also house a 8,500-square-foot Joe Fresh outlet, an LCBO store and Ryerson University’s new $71.2 million athletic centre. The new location also features a complete ACE Bakery where artisan breads will be made from scratch everyday, a cheese wall with over 400 varieties, a team emporium, and a sushi bar featuring creations from Loblaw’s ethnic food retailer, T&T Supermarkets.
Loblaw has been working to increase its appeal to higher-end urban shoppers in cities like Toronto as it targets their pricier palettes, having recently launched its President’s Choice black label collection of gourmet grocery items.
Loblaw is competing fiercely with its two biggest rivals, Metro, and Sobeys, particularly in Ontario.
It has predicted this year will be one of its most challenging as it contends with rising food prices, stiff competition and an uncertain economy, all while it wraps up one of the company’s biggest-ever infrastructure overhauls.
Rising world prices for everything from meat and flour to sugar and gasoline have put upward pressure on food processors, grocers and most companies operating in the food business.
