Canadian consumers will be stunned to hear that Target Canada has planned to liquidate all of its 133 stores throughout the nation.
The retail giant had only just set up operations in Canada in March 2013, but it was reportedly plagued with poor sales and inventory issues. Some critics also complained of a price discrepancy between Canadian and U.S. locations.
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“We were unable to find a realistic scenario that would get Target Canada to profitability until at least 2021,” said Target's chief exec, Brian Cornell. “Personally, this was a very difficult decision, but it was the right decision for our company.”
I had only visited Target once, at one of its Toronto locations, and found it disorganized and poorly laid out, with lots of bare shelves.
This is what some of our bloggers had to say:
"I wasn't as wowed by Target as I had expected to be, but I liked their women's fashions and home decor."
"I loved it. Like anything crossing over from the U.S., I didn't expect it to have as much inventory or as many deals. But I still enjoyed shopping there, and found great things for me and for the kids. I'm sad to see it go."
"Never any stock, extremely poor service. I'm not surprised!"
"I love Target! I love the clothing and accessories especially the kids clothing! I wasn't upset that it wasn't exactly like the America version, this is Canada we are different."
"They were never able to match the inventory—or the prices—that made their U.S. stores so fun."
"Trips to Target (even just to walk around, but usually buy something) are part of our weekly routine. This does make me so sad."
Despite its best intentions, Target presumably found it too hard to compete with the likes of Walmart, which has long been established in Canada.
Regardless, the closure of the U.S. retailer is is a blow to our economy: 17,600 employees will soon find themselves without work. Mercifully, Target has offered 16 weeks' severance pay to those affected, as it vows to close its doors in a "fair and orderly way."
You tell me: Will you be sad to see Target go?
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