National Jeweler Network

Market Developments

Target Canada grand opening set for April 5

2013-04-02

Toronto--Target Corp. will officially mark its entrance into the Canadian market later this week following the soft open of more than 20 stores in Ontario that began in mid-March.

The Minneapolis-based retailer, which has 1,784 stores in the United States and ranks No. 10 on National Jeweler’s 2012 list of $100 Million Supersellers, said it plans to open a total of 124 stores across all of the country’s 10 provinces throughout 2013.
According to A Bullseye View, the company’s online magazine, Target Canada hosted a grand opening event on March 27 in Toronto with celebrities including Sex and the City’s Sarah Jessica Parker, Gossip Girl’s Blake Lively and Canadian actress Elisha Cuthbert, star of 24 and Love Actually, in attendance.

A United States-only chain since its launch in 1962, Target stores began opening in Canada last month, starting with three pilot locations and then expanding with the soft-open of 21 more stores across southwestern Ontario, the province where Toronto is located.

Target Canada also is on the social media scene, tweeting as @target_ca and in French as @target_fr, and with accounts on Facebook and YouTube.

Target Corp.’s results for the U.S. market in 2012 showed that same-store sales increased less than 1 percent in the fourth quarter and were up 3 percent for the year, results CEO Gregg Steinhafel said the company was “pleased” with in the face of the highly promotional retail environment and customers that still are hesitant to spend.

The 124 stores slated to open in Canada this year mark the single largest store expansion in company history. The retailer also plans to open more Target and smaller-format City Target stores in the U.S. this year.