Tag Archives: Target

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Lowe’s Canada To Acquire Leases Of 13 Former Target Stores

Lowe’s Canada announced today it has reached agreement to acquire the leases of 13 former Target Canada locations and to purchase Target’s Milton, Ontario distribution centre for a total purchase price of approximately C$151 million.  This acquisition came as part of a real estate auction following Target’s decision to cease operations in Canada.

Continue reading Lowe’s Canada To Acquire Leases Of 13 Former Target Stores

Target Canada Liquidation Update: Closing on April 12

Target Canada’s liquidator will close all stores by April 12th.

The advertised discounts are:

  • 70% off: fashion jewellery, party supplies, gift cards, etc.
  • 60% off: jeans, denim, shoes, winter boots, toys, movies/music, light bulbs, candles, fans, blinds, etc.
  • 50% off: clothing & select shoes, cosmetics, fragrances, school/office supplies, cameras, diapers & formula, pet supplies, video game accessories, kitchen & household appliances, cookware, hardware, furniture, exercise equipment, automotive, etc.

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Remember: Store fixtures and equipment is also on sale!  See the store manager at each store for details.

Locations

Target Canada Liquidation: Sale Update

Target Canada announces more price cuts during their Canadian liquidation sale.  Here’s what they are cutting now:

  • 15% off iPads
  • 25% off all groceries
  • 25% off bedding
  • 25% off TVs
  • 30% off office/school supplies
  • 30% off toys
  • 30% off blinds & drapery
  • 40% on select items

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Remember: Store fixtures and equipment is also on sale!  See the store manager at each store for details.

Locations

Target Canada Liquidation Draws Mockery on Twitter

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Here are what Canadians think of the Target “Liquidation Sale”:

Source: Twitter

Target’s ex-CEO’s golden handshake exceeds the total for laid off Canadian workers

Gregg Steinhafel’s, the former CEO of Target, total severance package is worth about the same as the total amount being offered to all 17,600 of the chain’s laid off Canadian employees

Target’s package for its Canadian workers, amounts to $70 million (US $56 million) which is supposed to provide each worker with 16 weeks of pay.

Steinhafel’s package including stock options and other benefits is estimated to be valued at US $61 million.

Is this right?  Have your say below.

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The winner of the Target pullout: Walmart!

Who will fill the 20 million square-foot hole left by Target when it begins locking the doors at its 133 locations across the country?

Here are the usual suspects:

future-shop-best-buyDon’t even think about it.  A massive expansion is out of the question for Best Buy and Future Shop.

 

canadian_tire_1When Target came knocking on Canada’s door, Canadian Tire decided it had to change.   And change it has.  Its stores are now modern and cover everything from A to Z, except for groceries.  Does it want to take Target’s locations?  Probably not.

hudsonsbay

Hudson’s Bay is Canada’s oldest retailer, but its format and demographic target does not suit most of the areas occupied by Target.  This is a no.

 

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loblawsLoblaws could take a crack at some of the locations, but it’s still busy working on absorbing its acquisition of Shoppers Drug Mart.  Not a good time for Loblaws to be expanding.

WALMART LOGO

Walmart is the most logical candidate for taking on some of those Target locations.  Both cater to the same market segment and Walmart has a strong footprint in Canada.

With about 400 Canadian stores, the world’s largest retailer could grow its footprint by more than 130 locations.  Having Walmart acquire Target’s network could be a good thing for Canadian consumers as the Walmart will be able to increase its buying power to squeeze lower costs out of suppliers and create more efficiencies from a larger footprint.

After less than 2 years, Target pulls out of Canada

After less than 2 years in Canada, Target is shutting down all its 133 stores in Canada and letting go 17,600 employees. Target lost almost $1 billion dollars in its first year in Canada and continued to lose money with disappointing sales and weak consumer demand.

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It is highly likely that all the Target stores in Canada will be having sales on their inventory.  Check out the closest location near you.