Nov 5, 2010
Target is preparing to enter Canada with 200 stores. Victoria secret is looking at 1 Bloor. Louis Vuitton is taking additional space at 150 Bloor. Marshalls has committed to six to eight stores in southern Ontario opening in 2011. Lowe’s is opening 3 new stores in Calgary.
US Retailers are into Canada. They like our stable economy, our accommodating landlords and our excellent shopping centre network, says Michael Kehoe, with Fairfield Commercial Real Estate.
It was reported in the Wall Street Journal in early October that 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.
In Toronto, US retailer action on Bloor street includes Victoria Secret and Luis Vuitton checking out space on Bloor St., according to Arlin Markowtiz, commercial broker with Cushman and Wakefield.
On the subject of Marshalls, TJX Cos. expects to open the first Canadian Marshalls stores in the spring of 2011.
“I am delighted to announce that we are bringing our Marshalls chain to TJX Canada, where we have our highest financial returns, with the planned opening of six stores in 2011,” said Carol Meyrowitz, TJX chief executive.
“Ultimately, we estimate the Canadian market can support 90 to 100 stores.”
TJX first entered Canada in 1990 with the opening of Winners, and now operates sister chains HomeSense (a home decor chain) and StyleSense (a footwear chain). There were 813 Marshalls stores in the United States and Puerto Rico at the end of 2009.