Target leaving Canada!

http://www.thestar.com/business/2015...ay-sales.html#

“Reinvigorating guest frequency is the top domestic priority,” he said in a note before the results were released. The exit from Canada was “in the best interest of shareholders,” said Benedict, who has a neutral rating on Target.
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The analyst's are too focussed on shareholders ..the main reason Target got out of here. If they had some patience , they would have / could have made it here.

I was told that when WM came to Canada in 1994, they lost money for the first 9 yrs , I think they bought the former Woolco stores . Target lost money for only 2 years, which isn't abnormal for setting up business in a new country. I think they were just about turning things around, when they decided to quit.

Can anyone confirm if there will be a markdown drop tomorrow?

Trying to decided between heading out this afternoon or trying to go tomorrow sometime. DD just got invited to 2 birthday parties so I need to pick up some toy gifts.

TIA

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Originally Posted by bargain_hunter_lola

Can anyone confirm if there will be a markdown drop tomorrow?

Trying to decided between heading out this afternoon or trying to go tomorrow sometime. DD just got invited to 2 birthday parties so I need to pick up some toy gifts.

TIA

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I heard from the manager out here in BC 25% clothes and 30% toys. She actually pulled out her phone to read it off her email when she told me.

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Originally Posted by tjthemanto

http://www.thestar.com/business/2015...ay-sales.html#

“Reinvigorating guest frequency is the top domestic priority,” he said in a note before the results were released. The exit from Canada was “in the best interest of shareholders,” said Benedict, who has a neutral rating on Target.
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The analyst's are too focussed on shareholders ..the main reason Target got out of here. If they had some patience , they would have / could have made it here.

I was told that when WM came to Canada in 1994, they lost money for the first 9 yrs , I think they bought the former Woolco stores . Target lost money for only 2 years, which isn't abnormal for setting up business in a new country. I think they were just about turning things around, when they decided to quit.

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It does feel like they wimped out. So sad.

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Originally Posted by solace76

It does feel like they wimped out. So sad.

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i do agree.. i know they lost a ton of money but that is to be expected when they are still setting up new locations, they didn't make a solid effort to sway people to shop at target, they didn't advertise and sponsor community stuff things that get the good word of the store out... it was almost like they came they set up and had the expectation that people would flock to the stores and they would be a raving success with little marketing.. they NEVER had an official grand opening so they never did have an official anniversary.. and when new locations opened they were a soft opening with no specials.. people walked in grumped about the prices walked out and never went back

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Originally Posted by Midnightly

i do agree.. i know they lost a ton of money but that is to be expected when they are still setting up new locations, they didn't make a solid effort to sway people to shop at target, they didn't advertise and sponsor community stuff things that get the good word of the store out... it was almost like they came they set up and had the expectation that people would flock to the stores and they would be a raving success with little marketing.. they NEVER had an official grand opening so they never did have an official anniversary.. and when new locations opened they were a soft opening with no specials.. people walked in grumped about the prices walked out and never went back

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My store did have an official grand opening. It was was friends and family of staff, vips, etc. A bunch of us were outside thinking we could get in to shop /look around but nope. They did serve us 'outsiders' some mini-cupcakes from the event though :)

I stopped in tonight and it was depressing seeing more and more of the store closed off because the shelves are bare.

Silk

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Originally Posted by tjthemanto

http://www.thestar.com/business/2015...ay-sales.html#

“Reinvigorating guest frequency is the top domestic priority,” he said in a note before the results were released. The exit from Canada was “in the best interest of shareholders,” said Benedict, who has a neutral rating on Target.
-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
The analyst's are too focussed on shareholders ..the main reason Target got out of here. If they had some patience , they would have / could have made it here.

I was told that when WM came to Canada in 1994, they lost money for the first 9 yrs , I think they bought the former Woolco stores . Target lost money for only 2 years, which isn't abnormal for setting up business in a new country. I think they were just about turning things around, when they decided to quit.

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Just curious - how many stores did Walmart open with? And how much money did they lose for each of those 9 years? Anyone know?

Silk

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Originally Posted by Silk

Just curious - how many stores did Walmart open with? And how much money did they lose for each of those 9 years? Anyone know?

Silk

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According to Wiki ..so they opened/started with around 100 revamped Woolco store's under the Walmart banner, when they came to Canada.
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Walmart Canada was established in 1994 from the acquisition by Walmart Stores Inc. of 122 Canadian leases of Woolco, a troubled subsidiary of Woolworth Canada. ^[5][6] The same year, these Woolco stores were renovated and converted into the Walmart banner.^[5] Wal-Mart did not acquire the 22 other Woolco stores that were either unionized or had downtown locations. Some former Woolco stores were sold and re-opened as Zellers stores.^[7]

All 16,000 former employees from the Woolco stores that Walmart acquired were retained, extensively retrained, and given a five percent raise.

"Even though Woolco had seen better days and was struggling, there was still an enormous amount of talent in that company. I think that is one of the reasons Walmart has succeeded in Canada, is because we started with a fantastic team that we re-motivated”

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Originally Posted by Midnightly

i do agree.. i know they lost a ton of money but that is to be expected when they are still setting up new locations, they didn't make a solid effort to sway people to shop at target, they didn't advertise and sponsor community stuff things that get the good word of the store out... it was almost like they came they set up and had the expectation that people would flock to the stores and they would be a raving success with little marketing.. they NEVER had an official grand opening so they never did have an official anniversary.. and when new locations opened they were a soft opening with no specials.. people walked in grumped about the prices walked out and never went back

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They opened too many stores too fast . If they had just started with few stores in the major urban areas with high population density & slowly & steadily expanded they would have been fine. Also they failed in their E-Commerce strategy a lot , a proper well maintained site , where you can browse & compare prices is a must, even if you can't order stuff online. You can't just have a flyer online & that's pretty much your website.

Seriously? You're back to discussing Walmart AGAIN??? :frusty:

Interesting fact - On Facebook, Target Canada has 50% more 'likes' than Walmart Canada :)

Ron.

Yet one remains open ;)

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Originally Posted by mollyh

Yet one remains open ;)

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How it remains open baffles my mind. I have been in their many times and the prices are rarely any lower than their competitors. Their checkouts are the worst in the business and they have ZERO loyalty plan. I think it remains open, because many Canadians are not that smart. You have to look no further than the sheeple lined up at target's first day of liquidation filling up their carts for 10% off.

Maybe full speed ahead when the plan of action was put into place was not the way go. If they had have moved a little more slowly & gradually, the word would have spread that Target was now open & people could have looked forward to when a Target opened near them.

1) The prices were not overly incredible.
2) The stores were not well appointed in my opinion.

Very little merchandise graced their shelves.

This is just sad. It is another jolt for our economy....

My hat is tipped to the employees of Target who are conducting themselves with professional dignity & class. The camaraderie of working with supportive co-workers is never going to replaced for them.

Thanks to everyone on here who is treating this sad situation with compassion & kindness.

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Originally Posted by SillyLoocie

This is just sad. It is another jolt for our economy....

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this is one of my biggest worries.. with target pulling out and a handful of other stores have pulled out of the Canadian market over the last year is just staggering it is a big hit to the economy, to unemployment levels.. just general security and i keep waiting to hear the next hit