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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 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]
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 ...
Target said shrink increased by more than $500 million last year compared to 2022, "representing about 50 basis points of incremental rate pressure," Fiddelke said on the company's Q4 earnings ...
Target has had to deal with a lot of negative news of late, the most obvious being the data breach. However, while the data breach is likely to negatively impact Target for the short-to-medium ...
Target has 25,000 fewer employees than a year ago. In its latest annual report, the Minneapolis-based retailer disclosed that it had about 415,000 full-time, part-time and seasonal workers as of ...
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 Canada – closed because of a $2.1 billion loss for Target Corporation; Terra Transport; Towers Department Stores – department store chain; acquired by Zellers; Union Bank of Halifax – now part of the Royal Bank of Canada; United Grain Growers Ltd. – merged with Agricore to form Agricore United; Vidéotron – cable; now owned by ...