Oct 7 2010
Commercial agents, commercial landlords, and discount shoppers take note – Target has set its sites on Canada.
According to the Wall Street Journal, Target Corp is preparing to enter Canada, with as many as 200 stores as the company moves for the first time beyond U.S. borders.
Target Corporation (known just as Target) is the second largest discount retailer in the United States, behind Walmart. The company is ranked number 28 on the Fortune 500.
Target sells low-priced consumer offerings as well as low-priced but fashionable items. Just like Walmart, it also has started selling fresh food. It has 1,743 stores in the United States.
Target is looking at opening a couple of hundred Canadian stores over the next 10 years, Fred Waks, chief operating officer with RioCan, the largest public real estate developer in Canada, told the Winnipeg Free Press.
Big US retailers have always had a fondness for Canada but now that Canadian retailers are outperforming their U.S. counterparts, pretty much across the board, the lure of the Canadian North may be too much to resist.