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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.
Target Canada opened 133 stores starting in 2013 but shut down completely after two years, producing a write-down for its parent company of over 5 billion US dollars. [ 20 ] [ 21 ] The fiasco was set into motion by Target acquiring almost $2 billion worth of leases from the defunct retailer Zellers , which compelled Target to hurriedly open ...
Target Canada racked up losses of $2.1 billion in its short life, and the store's botched expansion was characterized by the Canadian and US media as a "spectacular failure", [59] "an unmitigated disaster", [60] [61] and "a gold standard case study in what retailers should not do when they enter a new market". [62]
Canada is the new battleground for grocery stores, and a poor decision by a rival may just allow Target stock to ride the express train higher. The country that shares our northern border is ...
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Target is throwing down the gauntlet in the battle pitting bricks-and-mortar chains against more fleet-footed online retailers. The country's second-largest department store chain announced ...
His tenure as CEO of Target also included a disastrous expansion of Target into Canada in which the company lost $2 billion in two years. On top of the cost burden from buying out 220 leases of discount retailer chain Zellers , the expansion was plagued by flawed execution, including inventory and restocking problems, poor locations and higher ...
Target's longtime goal of rolling out 100 to 150 stores in Canada in 2013 and 2014 is starting to take shape. The discount retailer opened its doors in the country earlier this month, with three ...