Target's Bounce Back
You probably heard last week that Target Canada took a $941M loss in 2013 while undertaking a Canadian roll-out. (The only way you didn't hear is if you were in a Target all week. We've been lost in some, so it's not impossible.)
Some of the reasons we've heard: Canadian shoppers are dissatisfied with shortage of product variety that they see when travelling to US Targets. One thing a number of retail analysts have told us—Target is strong enough to sustain the setback and reset in Canada. Bisnow reached out to Target Canada president Tony Fisher to hear about its next steps.
Above, Target's Emerging Designer Awards. Tony says the year has been challenging, but the company has learned a tremendous amount. “It’s difficult to pick just one thing,” he says. Tony says there is definitely a place for the Target brand in Canada. He used the word “education” when referencing the consumer, communication, and “enhanced guest awareness,” particularly with regards to the assortment of products and competitive prices across grocery, commodities, and beauty categories.
“Our goal was to bring the true US Target experience to Canada,” he tells us. Target Canada’s plan is to have 150 stores by 2017. Tony is snapped with actress Blake Lively at the opening of the Danforth location.