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Target Canada Co. was a short-lived Canadian subsidiary of the Target Corporation, the eighth-largest retailer in the United States.Formerly headquartered in Mississauga, Ontario, the subsidiary formed with the acquisition of Zellers store leases from the Hudson's Bay Company (HBC) in January 2011.
Throughout the 21st century, retail businesses in Canada have felt the pressures of foreign store expansions into the country, as well as a shift towards online retail. As a result, closures have been a mix of stores unique to the nation, as well as newcomers like Target Canada.
During his tenure, Cornell shut down the loss-incurring Target Canada. [1] Cornell occasionally visits Target stores and asks guests about their shopping experiences. [1] As CEO, Cornell has been featured by news outlets such as CNN, which described him as Target's "ace CEO" and crediting him with the business' strong growth in the 2010s. [9]
It was formed in 2013 when Target acquired Zellers leases and converted them into Target stores. Target Canada was in operation for two years until the closure of all stores in 2015. [46] The retail chain racked up losses of $2.1 billion in its brief lifespan, and the Canadian news media termed Target's foray into Canada as a "spectacular ...
This story might explain why the sales of Target Canada's remaining stores are proceeding very slowly. I suspect that a lot of smaller retailers will take the rest of the 67 Target stores--on which bids were placed--such as Loblaws, Sears Canada, and perhaps Lowes Canada or Metro Inc.. Not many retailers can take 100,000 sf stores.
Target store during liquidation in Nepean, Ottawa, Ontario, Canada (store #3628), a former Zellers, now a FreshCo. On January 13, 2011, Target announced its expansion into Canada, when it purchased the leaseholds for up to 220 stores of the Canadian sale chain Zellers, owned by the Hudson's Bay Company. The deal was announced to have been made ...
In turn, Target announced its intention to convert many of them to Canadian locations of Target, and re-sell the remainder to other parties such as Walmart Canada, resulting in their liquidation and eventual closure. While HBC initially retained 64 Zellers locations, it announced on July 26, 2012, that all of them would be liquidated and closed ...
49th Parallel Grocery; A&P; Best for Less; The Barn Fruit Markets; Canadian Tire (short-lived rollout) Commisso's Food Markets; Cooper's Foods; Darrigo's; DiPietro's