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- Target Corp. is pulling out of Canada after racking up over US$2-billion operating losses in less than two years, a retreat sure to go down as the biggest failure of an American retailer in this country to date.
financialpost.com/news/retail-marketing/target-corp-calls-it-quits-in-canada-plans-fair-and-orderly-exitTarget Corp to exit Canada after racking up billions in losses
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Jan 21, 2016 · Target Canada was at last transitioning into a functional—almost normal—retailer. There were even big plans for 2015, such as implementing online shopping at Target.ca.
- Canadian Business
Jan 15, 2015 · Target Corp. is pulling out of Canada after racking up over US$2-billion operating losses in less than two years, a retreat sure to go down as the biggest failure of an American retailer in this country to date.
- Hollie Shaw
- Target’s Canadian Expansion: ‘A Little Too much, Much Too Fast’
- Why Target Failed in Canada
- After Canadian Failure, What Now For Target?
“Withthe benefit of hindsight, looking back, we took on a little too much, much too fast,” Molly Snyder, spokeswoman for Target, told Retail Dive in an interview. Launching 124 stores in just one year gave the retailer little space to make mistakes and learn, which would have been hugely beneficial when entering a new market. Many of Target’s targe...
From the beginning, Target’s Canadian operations had multiple glitches that ultimately deterred shoppers from shopping again at its stores. “We had challenges with our supply chain and distribution, issues with in-stocks and out of stocks, issues with pricing and competitive pricing, which led to issues with pricing perceptions,” Snyder told Retail...
While Target’s failed expansion to Canada has some questioningthe future of the retailer, Target still has potential avenues for growth in the U.S. On a Jan. 15 conference call with investors, the company said it saw promising digital sales this past holiday season, with e-commerce representing a significant portion of overall sales growth during T...
- Kelsey Lindsey
Apr 10, 2015 · Target Canada stores lasted less than two years, but changed the retail landscape for years to come. Shoppers entering the Target store at the Centrepoint Mall at Yonge Street and Steeles...
- Francine Kopun
Jan 15, 2015 · The collapse of Target in Canada can be partly blamed on the giant retailer neglecting to re-create the U.S. Target, says a business expert in Winnipeg.
Jan 15, 2015 · Aug. 1 – Despite its financial woes, Target isn’t finished with store openings just yet. The retailer announces three new stores opening in time for back-to-school shoppers. Aug. 20 – Target announces losses of US$204 million on its Canadian operations in the second quarter of 2014.
Sep 22, 2022 · It plans to completely renovate 200 existing stores and open 30 more in 2022. Target entered the Canadian market in 2013. It opened 133 stores before closing them only two years...
