Target will be closing all 133 Canadian stores

I don't live in Canada, so this doesn't directly affect me, but wow, that sucks.

As a condition of the pull-out, it will be a liquidation. Sadly judging on the couple locations I've been in lately, as they had already started clearing older stock a couple weeks ago, i doubt they will have much left in their supply chain for us to take advantage of.

this supremely sucks. they were a good resource. though id be lying if i said i wasnt looking forward to the going out of business sale...

shajaki wrote:id be lying if i said i wasnt looking forward to the going out of business sale...

Only works if they stuff to sell.

They may have a few things show up in the next week or two but after that all bets are off.

The nature of the papers they filed for creditor protection basically says if they haven't signed to receive the product in one of their facilities from Hasbro already, that any open orders have been immediately cancelled. That would include anything pending that has not arrived in a Target facility.

Anything from Hasbro manufactured but not delivered will be sent to Hasbro, and anything awaiting production will be reassigned or cancelled.

Based on this any products that have left the factory for our shores are more likely to end up at a Winners, TRU or Wal-Mart then end up on a Target shelf.

i wonder what this means for target USA? they lost a lot of money coming to canada only to walk away from it all... would there be any kind of ripple effect?

Interesting commentary on the Target pull-out:

http://www.slate.com/blogs/moneybox/2015/01/15/target_closing_in_canada_these_pictures_show_why_it_failed.html

william-james88 wrote:

shajaki wrote:i wonder what this means for target USA? they lost a lot of money coming to canada only to walk away from it all... would there be any kind of ripple effect?

I dont think so, their stock price just rose 3 points today due to the news that they would leave Canada.

Yea... Target Corporate is much healthier financially now that Target Canada is dunzo.

It actually might have a positive ripple effect in the US... MORE TOYS FOR US!!!

Just heard about this on the radio this morning. I'm with you guys, Target Canada was kind of a disappointment. It was so boring in the stores from every aspect, and I think they had trouble competing with Walmart supercenters, which offers produce.
If you guys want to know a little more of the story, it's pretty neat. Canadian stores in general have less product, later, and more expensive. I remember that crossing the border was always cool because US stores like Target were there. Now for years there has been a store analogous to Target in Canada, called Zellers. I have many fond memories of Zellers, as it often had sales, and carried older stock sometimes, which allowed me to hesitate on decisions. Not to mention the fact that they carried Target exclusive products in Canada. However the stores were a mess. They were among the most rough looking stores I've ever been in. I suspect that poor management is why they were ripe for a buyout on Target's part.
Nowadays, Targets were clean stores that had comparable products to everywhere else for a small percentage more. For whatever reason they were often empty relative to places like Walmart. My personal opinion, I preferred Zellers. I can't remember buying anything from an advertised sale in Target, because they never had them (for Transformers that is). So basically I lost a major source of sales for a poor-man's Walmart. All I hope at this point is that some chain consistently picks up their TF exclusives

mesh wrote:To the editor of this so called sad story, being Canadian I can truly say, with no hesitation, Target stores here in Canada sucked!
I, for one, could care less for their so-called Target Exclusives as Toys R Us provided the figures adequately.
When walking through their isles there was never anything new or interesting.
If you walked through their store during Christmas hours it was bleak with hardly anyone in the store.
It's a shame the jobs will be lost but as a transformers fan, we're truly not missing much.
Someone says they were a great resource? I have to completely disagree.
If Walmart or toys r us did not have the item they stocked up within a couple of days. Target on the other hand would have the item but would be for $3-$5 more. I'm sorry but I can wait to save that money and put it towards groceries.
With Target their stock was so out dated and ridiculously priced I'd use their store to pick up baby clothes for my kid. (That aspect I will miss - great selection for baby merchandise)

Did we miss much.....yes for the job market but not for its merchandise.

Totally agree. Target stores around here were often mostly empty no matter when you went there, and the selection and prices left a LOT to be desired. But it is definitely a "sad" story as a lot of people are now out of work and that sucks even more.

Samsonator wrote:

megatronus wrote:Interesting commentary on the Target pull-out:

http://www.slate.com/blogs/moneybox/2015/01/15/target_closing_in_canada_these_pictures_show_why_it_failed.html

That's pretty much it, right there. The stores were always barren. Like they'd get a shipment of stock, and for the next three months or more, that was what they had. As it sold out, they'd have less and less, with nothing more coming in to supplement what was sold. Numbers were not down because they couldn't sell things, numbers were down because after getting their initial stock, they had nothing left to sell in the months following. This is true of every Target I've visited out here which, let's be honest, is only like... five... but for such a problem to be consistent between five separate stores within a chain?

I wanted Target to do well, even if we do have other stores that carry their exclusive toys here in Canada, but I think whoever was calling the shots on this project really dropped the ball, and now a buncha people are gonna be out of work as a result.

Do we still?