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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.
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 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]
Despite its public statements, investors claim that the decision led to a significant decline in its stocks and that Target failed to disclose the backlash that caused Target’s share price to ...
Yet the retail business can be cyclical, and consumers are resilient. Target has long focused on its dividend payments for shareholders. Today's plunge has now pushed the dividend yield to 3.6% ...
The last thing Target needs is to face another stiff headwind, but that's exactly. Target's data breach is likely to lead to souring sentiment and increased costs (litigation, upgraded technology ...
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 missed estimates on the top and bottom lines and cut its guidance. Target was trading similarly to the S&P 500 for most of the month before plunging on its earnings report. Why Target Stock ...