Target Has Tentative Plans To Move Into Canada
Posted January 22, 2010 12:00 pm.
This article is more than 5 years old.
U.S. discount superchain Target Corp. has its sights set on international expansion, and that means the famed red bullseye brand could open its doors in Canada.
But shoppers shouldn’t get too excited about the prospects of another major U.S. retailer heading north, because any such move could take years.
A spokeswoman for the company – which markets itself as a more fashionable alternative to big box retailers like Wal-Mart or Zellers – says it’s too early to determine whether Target will actually choose to expand into Canada.
She says the company is also looking at Mexico and Latin America as alternative markets, and it could be three to five years before a solid decision is made.
This week, Target announced plans to dramatically rein in its U.S. expansion plans and focus on spending $1 billion to renovate 340 existing stores this year.
In recent years, several popular U.S. retailers have launched stores in Canada, including hardware giant Loews and Bath & Body Works.
