Early pop-up lessons put to good use in building business

Soma Hammam $ Spa started as a pop-up space in Holt Renfrew. Founder and CEO Lourdes Juan used the feedback to expand into her first bricks and mortar location

Early pop-up lessons put to good use in building businessLourdes Juan is founder and CEO of Soma Hammam & Spa and founder of the Leftovers Foundation. Calgary’s Business: You started the Soma concept as a pop-up space in Holt Renfrew a few years ago. How important was that to getting your business up and running? Juan: It was a good exercise in mobility and…

Calgary’s industrial real estate market focusing on efficiencies

Brent Johannesen of Cushman & Wakefield sees the repurposing of older buildings and new projects with improved features

Calgary’s industrial real estate market focusing on efficienciesBrent Johannesen is vice-president of industrial sales and leasing for Cushman & Wakefield in Calgary. Calgary’s Business: What's the current vacancy rate in Calgary's industrial real estate market and how does it compare to a year ago and historical rates? Johannesen: Currently the industrial vacancy rate in Calgary sits at 7.5 per cent, down from…

Imperial Oil net earnings hit nearly $200 million in quarter

Company enjoyed its highest quarterly sales volumes in nearly 30 years

Imperial Oil net earnings hit nearly $200 million in quarterEnergy giant Imperial Oil reported on Friday that its second quarter earnings reached $196 million, an increase of $273 million compared to the net loss of $77 million in the same period of 2017. It said the quarter was characterized by significant planned maintenance at its major upstream and downstream assets. These activities affected operational…

Buyers’ markets for real estate in Calgary, Edmonton

MLS sales for Calgary down 9.9% from a year ago, Edmonton down 2.7%: Conference Board of Canada

Buyers’ markets for real estate in Calgary, EdmontonA report by the Conference Board of Canada says short-term year-over-year price change expectations for the Calgary and Edmonton housing markets are “falling.” Nationally, the only other areas described in that way were Regina, Saskatoon and Newfoundland. In its monthly Metropolitan Resale Snapshot, the board classified Calgary and Edmonton as being in buyers’ markets. It…

Retirees driving price gains in Canadian recreational property market

Survey says 78% of the national market has experienced price gains. But prices at Alberta's Sylvan Lake remain flat

Retirees driving price gains in Canadian recreational property marketThere’s been a surge in prices in Canada’s recreational property markets, according to a new report released on Thursday by real estate company RE/MAX. The report said a survey of the company’s brokers and agents found that 78 per cent of the Canadian market has seen the median price increase in 2018 from 2017. However,…

Moderate vulnerability for Calgary’s housing market: CMHC

Evidence of overbuilding remains, but some of the excess inventory is being bought up

Moderate vulnerability for Calgary’s housing market: CMHCEvidence of overbuilding remains high in Calgary, but the peak inventory count for apartment units, the largest share of inventory, occurred in December 2017. It has since declined, according to the latest Housing Market Assessment report by Canada Mortgage and Housing Corp. The report, released Thursday, said Calgary’s market had a “moderate” degree of vulnerability…

Alberta small business confidence takes slight dip in July

‘Evidently, increased trade uncertainty has taken a toll on Canadian small and medium businesses in July’

Alberta small business confidence takes slight dip in JulyAlberta’s economy may be slowly recovering but there’s still some angst among the province’s small business owners. According to the latest Business Barometer by the Canadian Federation of Independent Business, the optimism levels of entrepreneurs took a bit of a dip in July declining 0.7 points to 55.8, one point below the national index of…

espy experience turns shopping into a positive experience

Megan Szanik of espy experience works to help clothing customers of all body shapes feel good about how they look

espy experience turns shopping into a positive experienceMegan Szanik is founder and owner of espy experience. Calgary’s Business: Tell me the background of you opening espy. Why and how did it come about? Szanik: When I first opened espy experience in 2009, we were simply a discount designer boutique opened to take advantage of the glut of goods in the marketplace after…

Suncor net earnings reach $972 million in second quarter

The company’s Fort Hills project continues to ramp up ahead of schedule

Suncor net earnings reach $972 million in second quarterCalgary-based energy giant Suncor had net earnings of $972 million in the second quarter, up from $435 million for the same period in 2017. “Suncor generated the strongest second quarter cash flow on record, with funds from operations of $2.9 billion and operating earnings of $1.2 billion,” said Steve Williams, president and chief executive officer,…

Record high vacancy rate for Calgary’s suburban office market

Rental rates are down 29 per cent from peak levels in the fourth quarter of 2014, according to a CBRE report

Record high vacancy rate for Calgary’s suburban office marketCalgary's suburban office market saw its vacancy rate hit an historical high during the second quarter of this year as the effects of the recession linger. A report by commercial real estate firm CBRE said overall vacancy in the suburban market was 23.2 per cent in the quarter. “Mergers and consolidation activity, primarily from engineering,…