Maurice Boscorelli
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- Thread starter Maurice Boscorelli
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Cardinal Fang
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I don't get how they could ever make a go of it if their prices were not significantly lower than other retailers. You need to entice people away from other stores with selection and price. They had none in the way of selection and the price was at best comparable to their competitors. So why on earth should I go there?
Great example for you. My brother is lactose intolerant and uses Lactaid frequently. Price in Canada at Wallmart - 11.99 per bottle. In the U.S. at Target it's 4.99 per bottle. When he crosses the border he loads up. With the exchange and taxes added in he still comes out ahead.
Great example for you. My brother is lactose intolerant and uses Lactaid frequently. Price in Canada at Wallmart - 11.99 per bottle. In the U.S. at Target it's 4.99 per bottle. When he crosses the border he loads up. With the exchange and taxes added in he still comes out ahead.
Madman
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Cardinal Fang said:
It's always about the money! It's amazing how prices have not gone down considering the low gas prices. Groceries sky rocketed over the last year, mainly using the cost of transportation but now the prices have not gone down. It's always about the MONEY!!!!!
MONEY MONEY MONEY, Fangy, can I borrow a few thousand??
FUCK, I'm rambling....I just realized this rant has nothing to do with Target! Carry on...
bolt.upright
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It's like coffee--whenever the coffee growers/distributors are having a bad year Timmies put the coffee price up a nickel--forever. It seems the price never goes down, ever, no matter how good a year it is for the coffee industry. Maybe at the supermarket, but never at Timmies.
My family was very excited when we heard that Target was coming to Canada. We couldn't wait! My first time in a Canadian Target store I was so disappointed. All the items I frequently buy at Walmart were a couple of pennies, a nickel or a dime more at Target. And, they didn't have fresh fruits, vegetables or meat. So I still had to go to Walmart for those items (yeah, or a supermarket) so why would I ever go to Target?
In the time they've been open in Canada I've only gone a few times, usually for a sale item in their flyer.
My family was very excited when we heard that Target was coming to Canada. We couldn't wait! My first time in a Canadian Target store I was so disappointed. All the items I frequently buy at Walmart were a couple of pennies, a nickel or a dime more at Target. And, they didn't have fresh fruits, vegetables or meat. So I still had to go to Walmart for those items (yeah, or a supermarket) so why would I ever go to Target?
In the time they've been open in Canada I've only gone a few times, usually for a sale item in their flyer.
W
Wanker
Guest
Target but we just met!. Recession on the way?.
Target but we just met!. Recession on the way?.
Target is pulling out of Canada, the company announced today, less than two years after opening its first store in this country.
“When I joined Target, I promised our team and shareholders that I would take a hard look at our business and operations in an effort to improve our performance and transform our company,” said Brian Cornell, Target Corporation Chairman and CEO 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. Personally, this was a very difficult decision, but it was the right decision for our company. With the full support of Target Corporation’s Board of Directors, 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 U.S. business.”
Target has 133 stores across Canada and employs about 17,600 people.
Target says its cash costs to shut down its Canadian operations will be $500 million (U.S.) to $600 million (U.S.). The stores will remain open during a court-supervised liquidation period.
It also plans to sell its real estate.
Target Canada losses hit $941 million (U.S.) for 2013
The company said “nearly all Target Canada-based employees receive a minimum of 16 weeks of compensation, including wages and benefits coverage for employees who are not required for the full wind-down period.”
Target Canada president talks about Toronto and leadership
The company had hoped to see signs of a turnaround in its sales over the holiday season, but that did not materialize.
“We hoped that these efforts in Canada would lead to a successful holiday season, but we did not see the required step-change in our holiday performance,” said CEO Cornell. “There is no doubt that the next several weeks will be difficult, but we will make every effort to handle our exit in an appropriate and orderly way.”
A snapshot of 76 Walmart and Target stores across Canada during a prime shopping weekend in mid-December, retail information gathered by Field Agent Canada showed that 30 out of 38 Walmart stores were busy or very busy. Among 38 Target stores, 15 locations were busy or very busy.
As recently as last March, Target had planned to expand its presence in Toronto. It announced it would open its first downtown Toronto store in a massive new residential and commercial project under construction south of the Gardiner.
Target’s problems run deeper than Canada: analyst
https://www.thestar.com/business/2015/01/15/breaking-target-to-pull-out-of-canada.html
Target but we just met!. Recession on the way?.
Target is pulling out of Canada, the company announced today, less than two years after opening its first store in this country.
“When I joined Target, I promised our team and shareholders that I would take a hard look at our business and operations in an effort to improve our performance and transform our company,” said Brian Cornell, Target Corporation Chairman and CEO 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. Personally, this was a very difficult decision, but it was the right decision for our company. With the full support of Target Corporation’s Board of Directors, 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 U.S. business.”
Target has 133 stores across Canada and employs about 17,600 people.
Target says its cash costs to shut down its Canadian operations will be $500 million (U.S.) to $600 million (U.S.). The stores will remain open during a court-supervised liquidation period.
It also plans to sell its real estate.
Target Canada losses hit $941 million (U.S.) for 2013
The company said “nearly all Target Canada-based employees receive a minimum of 16 weeks of compensation, including wages and benefits coverage for employees who are not required for the full wind-down period.”
Target Canada president talks about Toronto and leadership
The company had hoped to see signs of a turnaround in its sales over the holiday season, but that did not materialize.
“We hoped that these efforts in Canada would lead to a successful holiday season, but we did not see the required step-change in our holiday performance,” said CEO Cornell. “There is no doubt that the next several weeks will be difficult, but we will make every effort to handle our exit in an appropriate and orderly way.”
A snapshot of 76 Walmart and Target stores across Canada during a prime shopping weekend in mid-December, retail information gathered by Field Agent Canada showed that 30 out of 38 Walmart stores were busy or very busy. Among 38 Target stores, 15 locations were busy or very busy.
As recently as last March, Target had planned to expand its presence in Toronto. It announced it would open its first downtown Toronto store in a massive new residential and commercial project under construction south of the Gardiner.
Target’s problems run deeper than Canada: analyst
https://www.thestar.com/business/2015/01/15/breaking-target-to-pull-out-of-canada.html
B
Blubber
Guest
They started off on the wrong foot. Paid millions of dollars for it's name rights in Canada.
Don't you think a CEO would have bought the name before investing a couple of billions on it?.
Don't you think a CEO would have bought the name before investing a couple of billions on it?.
Cardinal Fang
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- 5,717
This is going to send a big message to other big American brands thinking about coming up to service the lonely Canadians.
U
User-E
Guest
Walmart exec's will be sitting around the boardroom table with happy smirks on their faces.
L
Louis XIV
Guest
The interesting challenge will come for shopping arcades who invested in massive renovations/upgrades in order to accommodate the Target Store footprints. Who will be taking up that massive empty floor space is anyone's guess in the tough Canadian economy. Walmart's don't typically move, Sears and HBC are virtually dead in Canada. Will be interesting to see if any lawsuits result for defaults on commercial leases.
Sony also closing its stores in Canada.
Sony is closingall 14 of its stores in Canada over the next six to eight weeks, the company announced in a statement today.
Approximately 90 jobs will be affected, a spokesman for Sony Canada told CBC News. Sony Canada is not saying why the stores are being closed.
According to information on the Sony Canada website, there are 14 official Sony retail locations in Canada:
The statement said Sony would support authorized Sony retailers, enabling them to continue selling its products and providing support for customers.
Sony said it will reach out to previous Sony store customers in order to provide details about warranties and technical support in the future.
[h=2]Company in stormy waters[/h]Sony was once a leader in consumer electronics, giving the world the Walkman personal music player, the PlayStation gaming console, and a slew of popular video camcorders. But the Japanese company has struggled of late, cutting fiscal forecasts time and again.
Most recently, Sony Entertainment was the victim of a cyberattack over the controversial film The Interview, in which hackers crippled the Hollywood studio's operations and posted confidential emails, financial data, and personal information online.
Sony is considering an exit from some of its core businesses in an attempt to reverse its fortunes, according to a recent report by Reuters. That report cited company sources who said Sony was considering selling off its TV and mobile segments in the face of stiff competition.
[h=4]Corrections[/h]
Sony is closingall 14 of its stores in Canada over the next six to eight weeks, the company announced in a statement today.
Approximately 90 jobs will be affected, a spokesman for Sony Canada told CBC News. Sony Canada is not saying why the stores are being closed.
According to information on the Sony Canada website, there are 14 official Sony retail locations in Canada:
- Three in Alberta.
- Three in the Greater Vancouver area.
- Five in the Greater Toronto Area.
- One in Ottawa.
- One in Montreal.
- One in Quebec City.
The statement said Sony would support authorized Sony retailers, enabling them to continue selling its products and providing support for customers.
Sony said it will reach out to previous Sony store customers in order to provide details about warranties and technical support in the future.
[h=2]Company in stormy waters[/h]Sony was once a leader in consumer electronics, giving the world the Walkman personal music player, the PlayStation gaming console, and a slew of popular video camcorders. But the Japanese company has struggled of late, cutting fiscal forecasts time and again.
Most recently, Sony Entertainment was the victim of a cyberattack over the controversial film The Interview, in which hackers crippled the Hollywood studio's operations and posted confidential emails, financial data, and personal information online.
Sony is considering an exit from some of its core businesses in an attempt to reverse its fortunes, according to a recent report by Reuters. That report cited company sources who said Sony was considering selling off its TV and mobile segments in the face of stiff competition.
[h=4]Corrections[/h]
- A previous version of this story reported that Sony has 15 stores in Canada. In fact, Sony has 14 stores. One location listed.
W
Wanker
Guest
[h=1]Canadian Tire taking over 12 Target locations in $17.7M deal[/h][h=2]CEO Michael Medline says the real estate presented a significant growth opportunity for the iconic retailer. One of the stores being transferred is in Aurora in Greater Toronto, the others are spread across the country.[/h]
Canadian Tire Corp. says it has a deal to buy 12 real estate leases through the court-supervised windup of Target Canada.
Canadian Tire says it will pay $17.7 million for the leases once the deal is approved.
The stores are in five provinces in a variety of small and large communities.
Four of the locations are in British Columbia in Courtney, Cranbrook, Vernon and Victoria.
Three are in Quebec, with two in Montreal and one in Rimouski.
In Ontario, one location is in Aurora in Greater Toronto, and the other in Sudbury.
The other three are in Halifax, Moncton, N.B., and Winnipeg.
Canadian Tire chief executive Michael Medline says the purchase will allow the company to accelerate its growth, improve its retail network and provide its customers with more convenient locations and larger stores.
https://www.thestar.com/business/20...ng-over-12-target-locations-in-177m-deal.html
Canadian Tire Corp. says it has a deal to buy 12 real estate leases through the court-supervised windup of Target Canada.
Canadian Tire says it will pay $17.7 million for the leases once the deal is approved.
The stores are in five provinces in a variety of small and large communities.
Four of the locations are in British Columbia in Courtney, Cranbrook, Vernon and Victoria.
Three are in Quebec, with two in Montreal and one in Rimouski.
In Ontario, one location is in Aurora in Greater Toronto, and the other in Sudbury.
The other three are in Halifax, Moncton, N.B., and Winnipeg.
Canadian Tire chief executive Michael Medline says the purchase will allow the company to accelerate its growth, improve its retail network and provide its customers with more convenient locations and larger stores.
https://www.thestar.com/business/20...ng-over-12-target-locations-in-177m-deal.html
W
Wanker
Guest
The GAP is next.
[h=1]Gap to close 175 stores, cut jobs at headquarters[/h]48[h=2]Expects annual sales losses of $300 million due to closures[/h]
https://www.torontosun.com/2015/06/16/gap-to-close-175-stores-cut-jobs-at-headquarters
[h=1]Gap to close 175 stores, cut jobs at headquarters[/h]48[h=2]Expects annual sales losses of $300 million due to closures[/h]
https://www.torontosun.com/2015/06/16/gap-to-close-175-stores-cut-jobs-at-headquarters
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