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  1. #1
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    Target leaves Canada

    Target: 17,600 jobs at risk as retailer leaves Canada


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    The US discount store Target is to shut all of its 133 stores in Canada two years after launching there.
    On current trading performance, Target Canada, which employs 17,600 people, would not be profitable before 2021, its US parent said in a statement.
    Target Canada, which has filed for bankruptcy protection, faced tough competition from Walmart and Costco, which opened in the country years ago.
    Target said the closure was in the "best interest of the business".
    Chairman and chief executive Brian Cornell said in a statement: "After a thorough review of our Canadian performance and careful consideration of the implications of all options, we were unable to find a realistic scenario that would get Target Canada to profitability until at least 2021,"
    He said the focus now would be on "driving growth" in the US, where it has 1,801 stores.
    There had been criticism that Target's launch in Canada was inept, with uncompetitive pricing and poor range of stock in the stores.
    Shares in Target rose 8% in early trading following the news it was leaving Canada.
    Mr Cornell, named chief executive six months ago, said: "It was a difficult decision but it was the right decision for our company.
    "We have determined that it is in the best interest of our business and our shareholders to exit the Canadian market and focus on driving growth and building further momentum in our US business. "
    It is Mr Cornell's first big move following the resignation of Gregg Steinhafel last year.
    Target is not the only US discounter to suffer across the border. Big Lots and Best Buy have both closed stores in Canada.
    Target said it expected cost of the exit to be between $500m (328m) and $600m.
    http://www.bbc.com/news/business-30826434


    the war of 1812 lasted longer than target did in Canada



  2. #2
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    Target also kinda came here in a big way. Instead of opening a couple of stores in just a few cities, they opened nationwide almost. And it didn't work. And based on my shopping experiences there, it's not that great. It's basically Zellers 2.0

    The deals aren't great and there are few exclusives. I still shop at Walmart. Good riddance. Make a department store cheaper than Walmart and then you'll have a chance at surviving against billionaires.


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    Quote Originally Posted by Lebowski View Post
    Target also kinda came here in a big way. Instead of opening a couple of stores in just a few cities, they opened nationwide almost. And it didn't work. And based on my shopping experiences there, it's not that great. It's basically Zellers 2.0

    The deals aren't great and there are few exclusives. I still shop at Walmart. Good riddance. Make a department store cheaper than Walmart and then you'll have a chance at surviving against billionaires.
    target smelled like $#@! too



  4. #4
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    Here's hoping target leaves the US next. Hate that store








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    Quote Originally Posted by Christopher View Post
    Here's hoping target leaves the US next. Hate that store
    You hate target? When stores like kmart still exist?

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    Quote Originally Posted by MATRIX 2 View Post
    You hate target? When stores like kmart still exist?
    canada had kmart like 15 years ago lol



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    Target is a pretty big deal here in Australia.
    In personal preference i'd rate it Big-W > Target > K-mart.
    Target is big on fashion over here, its ok I guess.

    We do have one CostCo but I haven't visited it yet and don't buy in bulk living alone.

    Seems stupid to open so many stores so quickly, I bet some jerk studied for years and 200k debt in business studies to come up with that plan.

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    Is anyone really going to miss it?

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    Quote Originally Posted by podsaurus View Post
    Is anyone really going to miss it?
    no



  11. #10
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    Quote Originally Posted by MATRIX 2 View Post
    You hate target? When stores like kmart still exist?
    kmart still exists?








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    Quote Originally Posted by Christopher View Post
    kmart still exists?
    1077 stores in the US.

  13. #12
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    Quote Originally Posted by MATRIX 2 View Post
    1077 stores in the US.
    Ugh...I get your point now








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    Target is anything but a discount store. The sales are horrible, If you want to buy paper towels, it's $3.00 more for the same brand that you can get at Walmart. Brands like "Bounty" are $3.00 to $3.50 more at Target. Target is actually like Lunds and Byerly's, overpriced store. They put on tags that it's a new low price but it's still expensive as hell. I would rather go shopping at a mall for clothes and go to bestbuy for TV's because at Target, you better bend over and grab your ankles because you are going to get screwed.
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    Target leaves Canada because Canadians are too stupid. Canadians thought that they'd get the American exclusive products at American prices because they simply fail to understand basic economics.
    Last edited by Church B; 1 Week Ago at 14:00.

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    Quote Originally Posted by Church B View Post
    Target leaves Canada because Canadians are too stupid. Canadians thought that they'd get the American exclusive products at American prices because they simply fail to understand basic economics.

    Not every Canadian is as gullible as that. Target was pretty stupid to setup shop in so many locations at once. Test it out first in smaller locations, then see if it works. If not, then sayonara! Sucks for the thousands of people who are gonna be laid off, including a friend of mine who works there to save up money to pay off student debt. $#@! Target for being the idiots.


  18. #16
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    And now I wait for the day I love, liquidation sales.

    They did nothing to differentiate themselves from Zellers and that place was garbage outside the price match policy.

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  20. #17
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    Should be some killer sales, but I bet most of it will be sold on a corporate level to other stores.

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  21. #18
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    Quote Originally Posted by Fenix View Post
    And now I wait for the day I love, liquidation sales.

    They did nothing to differentiate themselves from Zellers and that place was garbage outside the price match policy.

    It was Zellers 2.0 with a new makeover.


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