American retail chain “Target” is moving some of its business into Canada. It plans to take over more than 200 Zellers stores. This is great news for many reasons.
Zellers’ parent company, HBC, will make a hefty profit from selling their Zellers business
Canadian REITs, like RioCan and Calloway, (who own these buildings) will benefit from having a bigger retailer as their tenant because it increases their land’s value.
Target plans to invest more than a billion dollars on renovations once it acquires the stores which will create jobs in Canada.
Target sells just about everything which will create competition for Loblaw (Superstore, etc), Wal-mart, and all other major retailers which will make businesses more competitive and prices cheaper, (good for consumers.)
The first Target store in Canada wont open until 2012 probably, and the whole transition won’t be completed until 2014 most likely but this is great news. Looking forward to it.