Target Corp. has announced the location of its first 24 stores in Canada.
As previously announced, Target purchased the leasehold interests of 189 sites currently operated by Zellers Inc., and plans to open 125 to 135 stores in Canada, the majority of which will open in 2013.
Target plans to open stores in the following locations in March/early April, 2013:
· London Westmount, Westmount Shopping Centre
· Kawartha Lakes, Lindsay Square Mall
· Newmarket, Upper Canada Mall
· Milton, Milton Mall Shopping Centre
· Cambridge, Cambridge Centre
· Toronto, Centrepoint Mall
· Mississauga, Square One Shopping Centre
· Ajax, Durham Centre
· Orillia, Orillia Square Mall
· Brampton, Shoppers World Brampton
· London, Masonville Place
· Windsor, Devonshire Mall
· Toronto, Cloverdale Mall
· Toronto, Shoppers World Danforth
· Burlington, Burlington Mall
· Toronto, East York Town Centre
· Aurora, Aurora Shopping Centre
· Fergus, Gates of Fergus
· Hamilton, Centre Mall
· Guelph, Stone Road Mall
· Burlington, Millcroft Centre
· Waterdown, Flamborough Power Centre
· Whitby, Taunton Road Power Centre
· Brampton, Trinity Common
“We are excited to announce the location of these first 24 Target stores in Ontario,” Tony Fisher, president of Target Canada, said in a release. “In addition to providing Canadian guests with an exceptional shopping experience, Target looks forward to continuing our strong reputation of being a good neighbour in the Canadian communities in which we will do business.”
Each location will employ between 150 to 200 workers, with hiring slated to begin in 2012.
The announcement Thursday came on the same day that Target lowered its earnings expectations after a disappointing December in which U.S. consumers waited until the last minute to shop.
Revenue at stores open at least a year rose 1.6 per cent. That missed analyst expectations for a 3.1 per cent increase, according to Thomson Reuters.
Revenue at stores open at least a year is considered a key measure of a retailer's financial health because it excludes volatility from stores that open or close.
Strong grocery and beauty product sales offset weakness in electronics, movies, books and music, the company said. In addition, sales and traffic were stronger in the week before Christmas thanks to last-minute shopping.
Total revenue for the five weeks ended Dec. 31 rose 2.6 per cent to $10.14-billion (U.S.).
The company now expects fourth-quarter earnings of $1.35 to $1.43 per share. That compares with prior guidance of $1.34 to $1.53 per share. Analysts had $1.48 per share.
Target said it expects revenue in stores open at least a year to rise in the low- to mid-single digit percentage range.
With files from The Associated PressReport Typo/Error
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