Boston, MA 10/29/2013 (wallstreetpr) – Target Corporation (NYSE:TGT) is a company whose online presence enables users to purchase products online or at least locate the product in one of its stores. This company announced on Monday the opening dates for the final thirty three of its stores that are set to open this year. They will open across Canada, which and will include the 1st store in the east coast provinces of Newfoundland, Prince Edward Island, and New Brunswick. The retailer said that all but 2 of the 33 stores will open on November 13, 2013 while the final 2 will have their openings on November 22, 2013.
The retailer, who is Minneapolis-based, will have opened 124 stores this year across Canada, indicating the most sweeping, 1 year foreign retail expansion in the history of the country. The president of Target Canada, Tony Fisher, called the last “number of shares” of store openings of the year 2013 as “a major milestone in the history of Target Corporation”. It is the first international expansion of the retailer and has proved more expensive and more challenging than expected.
The company said in August that the costs of the Canadian build out reflected in the fiscal results of 2Q. The retailer said that the gains had decreased by 13% for the time period, to $611 million, if compared with the previous year. There was no a longer forecast made by the company that the Canada project would be profitable by the end of this year.
Highly anticipated Canadian stores of the Target Corporation disappointed some shoppers. These shoppers made a complaint that the prices of some of the items were much higher in Canadian stores as compared to the locations of United States stores. This was a frequent complaint among the customers of Canada. Some of the shoppers complained about empty shelves in some areas of newly opened stores and also about the limited selection.
