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Calgary Alberta/Canada
Posts: 934 since Feb 2014
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Target corp is pulling out of Canada after trying to appeal to Canadians for 2 years
https://ca.news.yahoo.com/
it will cost Target something like $500M to $600M to close all 133 stores and lay off (fire) 17,800 employees.
It does not come as a surprise to me that the store has failed. The store was nothing to Canadians. Its stock and pricing made Zellers (the store it replaced here) look good.
It did not know where it fit into the merchandising matrix here. It was not a cheap, low cost store, it did not specialize in anything in merchandise.... it had a little bit of this or that from hardware to clothing to groceries but if you seriously wanted these items we had several better stores to go to such as WalMart or Canadian Tire.
Its shelves were always half empty or basically non existent...I went to look at shoes once...they only had 3 types of shoes for men...all made poorly and cheap looking.
Nopes, you could fire a cannon off in the aisles and hit only Target employees most of the time. In the mall near where I live , Chinook Center, the stores (it is a huge mall) closed down at 9:00pm but they thought they could attract people to their store from 9:00pm to 10:00pm.... ridiculous no one was in the mall at that time
I wonder how this failure and over $500m loss will affect its $75 stock price once this is known to US investors
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