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Target

There's a bit of celebration at work today. We weren't expecting them to completely fold the operation.
 
Now, Walmart has a monopoly in discount retail in all of Canada. How sad :( RIP Target.
 
I couldn't care less about Target, but Walmart filling the void makes me wish Target would stick around.

And worse, it will probably suck up all the oxygen in the room and turn into a defacto monopoly on the low-end.

AoD

PS: Oops, I see gabe made that point already.
 
There was little doubt this was coming (it was just a matter of whether the announcement was going to be at the beginning of the year or the end). The stores were empty of people and merchandise (even during December). And Sears is probably next (and it will certainly happen this year). And yes, sadly, less competition and variety is never a good thing. Let's hope that somebody or something slowly steps up to the plate in the low and mid-market retail area.
 
This is pretty big news. Time for the Bay to buy the locations back at pennies on the dollar.

They already have a presence at most of the good locations though, and I am not sure if they want to occupy the low-end space again now that they have divested Zellers.

AoD
 
I guess I should have checked out Target.

If there was only one anywhere nearby ... the neighbourhood Zellars converted to Walmart instead.

Looking at their location map. Good grief, the ONLY location in the old city of Toronto is on Weston north of St. Clair!?!

Lesson 1 - if you want customers, put stores where people are. Looks like there's about 1 store per riding in the outer GTA.
 
I wonder about many of the third and fourth-tier malls, like Cloverdale, East York Town Centre, Shoppers World Danforth, heck even Shoppers World Brampton. I'm sure larger first and second-tier malls like Erin Mills, Square One, Bramalea City Centre, Upper Canada, etc. will do fine.

Wow. Thinking about all that money spent to develop new distribution system from scratch, buying those leases, renovating all those Zellers stores, even building original new locations like Stockyards and the planned York Street store. It's one of the biggest retail disasters in Canadian history.

I only shopped at Target a few times (not having a car and living downtown) but I liked it when I needed to do a big mixed shopping - prices were good, the stores clean and not zoos like Wal-Marts tend to be, quick check-out. So the cost to get a ZipCar to head to Stockyards or EYTC wasn't that great. Yes, the inventory problems were apparent, but for my needs, they weren't an issue.

I hate Wal-Mart, so I'm really upset to see that it is the only lower-end mass retailer left.
 
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I guess I should have checked out Target.

If there was only one anywhere nearby ... the neighbourhood Zellars converted to Walmart instead.

Looking at their location map. Good grief, the ONLY location in the old city of Toronto is on Weston north of St. Clair!?!

Lesson 1 - if you want customers, put stores where people are. Looks like there's about 1 store per riding in the outer GTA.

Most of their locations are weaker than Walmart, which of course had a 20 year head start. I think they really should have aimed low and open fewer stores in areas where they can play up their brand. Bitten off more than they can chew for sure.

AoD
 
This is pretty big news. Time for the Bay to buy the locations back at pennies on the dollar.

Looks like they will be trying to get out of the lease obligation via a CCAA filing for Target Canada. If successful (likely) there won't be leases to sell.
 

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