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  7. Target says it will pull out of Canada after failed expansion

Target says it will pull out of Canada after failed expansion

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15 Jan 2015 11:49 #233569 by chairman
The retailer to book a massive $5.4 billion charge in the fourth quarter to reflect the loss from the investment.

Target said Thursday it will exit the Canada market, a recent expansion that has resulted in billions of losses and a move that will lead the retailer to book a massive $5.4 billion charge in the fourth quarter to reflect the loss from the investment.

The exit from Canada comes after Target TGT 2.93% moved aggressively to open over a hundred stores quickly in the market, but was criticized almost immediately for doing a poor job of replicating its American shopping experience. Though sales have been rising, the division remained deeply unprofitable.
Always tell someone how you feel because opportunities are lost in the blink of an eye but regret can last a lifetime.
cricketwindies.com/forum/

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  • SCA
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15 Jan 2015 13:26 #233646 by SCA
I wonder who is the wonder kid that invests $5.4bn in Canada? Whats the opportunity cost?

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15 Jan 2015 13:29 #233647 by ketchim
Idiots : capitalism at its worst !

Zellers could not make it and lured Target into a buy out !  :-[

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15 Jan 2015 14:02 #233692 by SCA
So what happenex to the bright guy who made that call??? A rpomtion I am sure... :D

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15 Jan 2015 14:08 #233699 by ketchim

All these big USA Box stores come here and ran the Canuck Ma and Pa operators out.

Not only Clothing but hardware and lumber !

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15 Jan 2015 14:11 #233705 by SCA
Yes..now all the jobs will be lost, lives disrupted....and the mom and pops are closed and dusted forever.Sad really.

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15 Jan 2015 23:11 #233913 by pattycake
I think that too many department stores are a bad move. Opening 100 stores is just asking for losses. It's better to have just a few and e-tail to cover the globe.

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