“Target has agreed to buy leases for 220 Zellers retail sites for $1.82 billion, paving the way for the U.S. retail giant to open its first stores in Canada by 2013.
Target, expanding outside of the U.S. for the first time, expects to open 100 to 150 stores throughout Canada in 2013 and 2014. This will provide an initial foundation for a more “robust” presence over time, the company said in a statement.
The expansion will create thousands of jobs in Canada, initially in the construction industry through renovation works, and eventually in the stores themselves, it said. A typical U.S. store employs between 150 to 200 people, meaning tens of thousands of jobs will be created, it said.
“We are very excited to bring our broad assortment of unique, high-quality merchandise at exceptional values, and our convenient shopping environment to Canadian guests coast to coast,” said Gregg Steinhafel, chairman, president and chief executive officer of Target Corporation.
Foreign retail giants are showing increasing interest in Canada’s retail market, attracted by a robust economy and stable financial system.
Target says its arrival will benefit the areas in which it operates as the company has a commitment to donate more than 5% of its income to support local initiatives.”
Source: Toronto Sun
NA NA NA NA NA NA NA NA HEY HEY HEY… GOODBYE ZELLERS!
shut up!!! really???? that is Awesome!
Awesome because I LOVE target but crappy because another Canadian chain goes byebye :(
I heart Target…hopefully they'll carry the same brands and prices as their American mama store! :-DDidn't JT just release a line of his William Rast clothing line in Target?!
This the most exciting news I've read in ages!!!Target is the first place I shop at when I go to the US…I can't wait 2 years – eek!Now if J.Crew came here, my life would be complete!
I have a really hard time shopping at Zellers, the ones by me were always messy and disgusting.. not fun at all. I love Target, they have some great beauty items (Sonia Kashuk) I always get my relatives to pick me up some stuff when they come over from the US. Great news.
oh my GOOODDD this made my morning :) haha
Yea Target! I do like Target better than Zellers – but really are they creating "new" jobs … don't really think so since the Zellers store was already there employing people.
Can't wait. I hope that they carry the same brands at great prices – we'll soon see. :)
Woo hoo! I never shop in the US but I've heard nothing but great things about Target. I love HBC but every Zellers store that I've been to is a dump. I hope that they sell Carters like they do in the US! Looking forward to this!
While I'm stocked Target is coming they'll hardly be creating lots of new jobs… the stores already exist and there are hundreds of people employed by Zellers {unfortunately, including my hubby} who are now scrambling to find something before Target gives them the boot. :(
Oh wow looking forward to that one.
I agree with RJ – although some new jobs will be creating with "construction/renovations" it's the jobs of current employees that need to be considered. They may not all be hired to work at Target.As another previous poster mentioned … yes, Zellers is SO dumpy, but it is no longer a Canadian company. Don't forget, HBC already was sold to the US years ago (a NY company, I think).However, as excited as I am, honestly? I certainly hope we will see the same products, and the SAME PRICES. It won't mean much to me if there is a 30% markup when the dollar is at par which is the case with so many American companies moving into Canada.