Target is acquiring leases on over 200 Zellers stores in Canada in the amount of US$1.84 billion marking Target’s first venture to the international market. The Minneapolis-based company is planning to spend another C$1 billion in store renovations.
It’s about time that Walmart gets some tough competition. The Arkansas-based company has been dominating the Canadian retail market for years and had been slamming Zellers on sales.
How do I know? After spending six years of my life in the Edmonton, Alberta, of course, I know what I’m talking about. I, myself, had never been a fan of Zellers. As a matter of fact, I set my foot only once in this store just to find out what’s in it. I find it a lot smaller than Walmart superstores and has limited merchandise compared to the retail giant.
I’m sure my shopaholic Canadian friends are rejoicing. Yes, I’m talking to you, Annabelle, Remie and Regie!!!