Target to buy Zellers for $1.8 billion

Teknojnky

Teknojnky

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Target Corp. said Thursday it is buying Zellers Inc., a subsidiary of the Hudson's Bay Company, for $1.8 billion.

U.S.-based Target said the purchase will allow it open its first stores in Canada beginning in 2013.

"This transaction provides an outstanding opportunity for us to extend our Target brand, Target stores and superior shopping experience beyond the United States for the first time in our company's history," said Gregg Steinhafel, Target's chairman, president and chief executive officer.

Target expects to open 100 to 150 Target stores throughout Canada in 2013 and 2014.
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Read more: http://www.canada.com/Target+Zellers+billion/4102597/story.html#ixzz1AvPzKVYP
 
Target has been eyeing Canad for a while.

easier to buy an already established network (Zellers)
 
Cyclonicks said:
Y vont appeller leurs magasins "cible" au quebec??
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aahaha

ils vont surement enregistrer la marque pour l'utiliser.

malgré que Tim Horton's est rendu Tim Hortons a cause de plaintes de mouvements de langue francaise. L'apostrophe était anglophone...
 
Tech-Boy said:
Zellers is only worth 1.8 billion? Wow.. bargain for them.
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yep and HBC needs the cash.

Expect to see something similar along the lines of what WalMart did with Woolco. Convert popular locations into Target stores, close down unprofitable locations and open super centers.
 
Bye bye Zellers, good riddance.
Always seemed a welfare chain to me, mostly by the HORRIBLE colour schemes they have in the stores. Off-beige and dirty red, mmmmmm.
 
Tech-Boy said:
One thing I've noticed, any mall with a Zellers in it SUCKS BALLS. Think about it, it's true.
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MyRidzPhucked said:
Bye bye Zellers, good riddance.
Always seemed a welfare chain to me, mostly by the HORRIBLE colour schemes they have in the stores. Off-beige and dirty red, mmmmmm.
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thats so true I HATE Zellers! always behind in tech and fashion ect ect...not surprised at all and I tell my GF all the time they're gonna go out of business...what they need is better informed buyers and purchasing employees!
 
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