Target Expands Canadian Presence

In Industry News, What's New by Lauren ParkerLeave a Comment

target_logo-canadaMinneapolis–Target has been looking North this year.

As part of its ongoing expansion plans, the discount retailer is opening an additional 20 stores in Canada this month.

Target opened its first three Canadian stores earlier this year, then 45 more between March and May. In total, Target plans to open 124 stores across Canada in 2013.

The new stores will open in British Columbia, Alberta, Saskatchewan and Ontario in the last two weeks of July.

Target lowered its full-year earnings outlook in May, after higher interest charges as well as soft apparel sales weighed on first-quarter profits. Net earnings declined 28.5% to $498 million, while sales climbed 0.5% to $16.6 billion.

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