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Canadian stores feeling the pinch of weak US dollar

lil dickie said: "The Loonie is stronger than ever against the dollar...[url=http://money.cnn.com/news/newsfeeds/articles/apwire/4b090240f2db00dff0517b6b55cc5cc0.htm]causing Canadians to spend in the USA[/url] [quote] Gomes hired a bus to take 56 of her closest friends to shop in Pennsylvania, where each dropped between $500 and $1,000. "I got an evening gown for $30. That's unheard of here," she said. "The girls I went with were going crazy." With the Canadian dollar, known as the "Loonie," jumping as much as 16 percent in value this year against the U.S. dollar, U.S. retailers and malls are enjoying a surge of Canadian shoppers. But those spending sprees are siphoning off business at Canadian merchants, which are struggling with sales declines during the critical holiday season. "This isn't just happening to stores and malls along the border, this is a Canadian phenomenon," said Rick Woodward, marketing director of The Pen Centre, a mall in St. Catharine's, Ontario, where sales fell 11 percent in September and another 10 percent in October.[/quote] The amazing part is that 2 our 3 Canadians live close enough to the U.S border to get here quick. This is having a huge effect."

Airelon said: "I tried to warn em'. I have a bunch of Canadian friends. And I'm sorry, but if it's one thing I've learned about Canadians? They have the [i]biggest[/i] little-man syndrome you have ever seen in your life. They always have some pressing need to try to prove something about Canada to an American. So when the Looney went up against the Dollar a few weeks back, I was trying to convince them that this was [i]not[/i] good for Canada's economy. Just couldn't get through to them."

lil dickie said: "I know. I know many Canadians too. They suck and are stupid...but you think they will listen? LOL"

AlfredSokol said: "Like Airelon said. Canadians just want to be number one for once. Their economy is largely commodity based so they are having a good run. But the low dollar is having the effect of increased sales in the U.S. A strong Loonie means lost jobs north of the border."

Heather said: "Imagine the wait times at customs to get back into the country. What a headache that must be!"

AlfredSokol said: "The "Rainbow Bridge" was very crowded the last time I went there. All the Canucks were ooot and aboooot."