Retail News: Target Coming to Canada … Years From Now … Maybe …
“Target said it will spend about US$1-billion to renovate about 340 stores this year, expanding groceries to prompt more frequent visits and slow the pace of store openings to fewer than 10. In October, the company added 26 locations, including five full-grocery SuperTarget stores.”
But some not so good news for toy buyers, Target is thinking about opening smaller stores …
“Target’s popularity in cities prompted the test of smaller formats, Mr. Steinhafel said in a Nov. 17 interview at the company’s headquarters.
Target has adjusted merchandise in a few city locations to ensure that busy stores are well stocked, a process that may help it prepare for smaller formats, Mr. Steinhafel said.
Target has a “compelling opportunity” to open smaller stores, and could test formats ranging from 60,000 to 100,000 square feet, Mr. Steinhafel said yesterday. Its general-merchandise stores average 128,000 square feet.
While smaller-format stores will bring “good add-on business,” international growth could be more perilous, Mr. Abella said yesterday. “It might not be such an easy move for them, so they have their work cut out for them, the exception being Canada.”
(um, made up logo BTW 🙂 ).
“A spokeswoman for the company said it is too early to determine whether Target (NYSE:TGT) will actually make Canada its market of choice, and that at this point it’s only exploring the possibility.
“We haven’t confirmed that it will be Canada,” Hadley Barrows said in an interview.
“We’re looking at Canada, Mexico and Latin America as options.”
In other words, don’t count on Target heading across the border any time soon. Barrows said it could take three to five years before a firm decision is made.”
So, um, maybe in time for CARS3 … or Mater Taller Tales: Marvel Universe. 🙂
Read More at The Financial Post and CTV News.
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5 April 2010
14 Comments
Went to Target today and it was Error-Card Monday. Chick Cab on Frank Card (Skyline), Lenticular Jay Limo and King on Final Lap cards. They are getting sloppy.
YABBA-DABBA-DOO!!!!!!!!
Note to Target Execs….Zellers is already red (and white) and doing poorly….In dire need of a buyer….do us the favor and we will buy Cars.
They closed one of my local Targets here in Florida in late January this year. And it was the Target I found most of my newer cars in.
I am still eagerly awaiting a Target here in Vermont!!!
There is a Bumper Save Team set for sell on E-Bay Note: TARGET ONLY sticker… Has Target really sold any of these?
I’m visiting my family in Canada this week. I mentioned this to my mother-in-law. She said, “Oh yes, they have been talking about a Target next the the Canadian Tire!”
Will Canadians actually pronounce it Tar-zshay?
We sure do! 😉 Actually, me and my friends do for fun…hehe
I’d be so excited if Target replaced our crappy Zellers up here in Canada…but I really can’t see it happening.
Besides, I enjoy the trips over the border to frequent places like that…it makes them more special!
We will pronounce it Targ EH!
😆
PirateWife turned 20 this week (times 2) and she is going to Vegas to celebrate with 10 gf’s, so she had to get her passport…SO this week our pasports SHOULD arrive which means I will be able to begin my cross border raids again….WOO HOO!!!!
Happy Birthday Piratewife!!!! All the best and many, many more.
What happens in Vegas stays in Vegas???? Steven just got back from Vegas….