To all- please ping me to Canadian topics.
Canada Ping!
Posted on 01/15/2015 6:18:02 AM PST by golux
Target says it plans to discontinue all operations in Canada and seek protection from creditors, less than two years after opening to much fanfare.
In a release early Thursday, the U.S. retail chain said it will close all its locations in Canada. There are 133 stores across the country with about 17,600 employees.
The company launched in Canada in the spring of 2013.
But after high expectations, the chain failed to deliver as customers faced higher-than-expected prices, and empty shelves as the retailer had problems with its distribution chain.
Executives repeatedly promised they would get it right, but ultimately decided to pull the plug.
"After a thorough review of our Canadian performance and careful consideration of the implications of all options, we were unable to find a realistic scenario that would get Target Canada to profitability until at least 2021," CEO Brian Cornell said in a release Thursday, explaining the justification for the shutdown.
(Excerpt) Read more at cbc.ca ...
Walmart is the only US big box store open now in Canada.
Couldn’t have happened to a better leftwing company.
Ooooh Caaanadaaaa!!!!
To all- please ping me to Canadian topics.
Canada Ping!
Related:
RadioShack may be preparing for bankruptcy
http://money.cnn.com/2015/01/14/news/companies/radioshack-bankruptcy/
Big Business sucks and this is a good thing. Besides, no one wants to work. The Government will take care of you if you just raise taxes on the Rich. /#Occupy
Bunch of retards.
From Target.ca French:
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Solde de janvier
That's pretty amazing that a company with the size and resources of Target would pull the plug after less than two years.
Do you know of anyone who has gone into a Radio Shack for the last 5-10 years?
The only thing I have bought there in that time span was an special HDMI cable that cost $14.95.
Apparently, Target failed to understand the Canadian market.
So, are they going to kill the Hudson’s Bay Company as well?
Zeller’s I really don’t care about, but The Bay has a long and storied history.
“Couldn’t have happened to a better leftwing company.”
Back in 2005 when I was working on my MBA I wrote extensively about Wal-Mart, as they publish all of their data. At the time the average Wal-Mart customer made $25,000 per year and the average Target customer made $75,000. I always shopped at Wal-Mart but spent several hours in Target so I could write authoritatively. Target said it was after the upscale, discriminating buyer. I struck up conversations with Target customers, who, mostly reminded me of hippies from the 60’s who had made it big in some Lefty field. Several said they’d never deign to shop at Wal-Mart. One actually “sniffed” at the suggestion. (The only time I’ve ever actually seen anybody do that.) Where the two companies had comparable items the Target price was between 20% and 50% higher. But, mostly Target had items that Wal-Mart didn’t. (Wal-Mart maintains a sophisticated pricing scheme for overlapped items and, depending on the distance from the nearest store, will discount their price. They do this on several hundred-thousand items and take into account numerous factors to keep their store’s cheaper than the competition.)
My overall impression was that Target was not as efficiently run. There were, for example, many empty shelves that stayed that way across several visits. Incidentally, I never bought anything there as the like-item is always cheaper elsewhere.
I did. My daughter used to work at the local Radio Shack. ......................
Yeah.
Radio Shack has been in tailspin for years.
They restructure internally, then make the employees sit in these meetings to listen to the latest buzzword that will supposedly save the company.
Then they restructure internally, again hold meetings, berate the employees on customer apathy, rinse lather repeat.
I do recall one debacle where Radio Shack partnered with Cellular One in my area.
CellOne had great plans for sale through Radio Shack.
So what happened when Cellular One decided within one month to cancel your contracted plan and bump you into a higher expense plan?
The customer didn’t yell at Cell One, no.
They went to Radio Shack and screamed at the employees there.
The Cell One rep couldn’t figure out why things were going so terribly.
My quip: “Couldn’t be due to the one month of wonderful contract as agreed and sold followed by being screwed anally, could it?”
How hospitable to foreign owned companies is the Canadian business environment? Or put another way, how anti business is the Canadian business environment AKA government regs and taxes?
My daughter worked at Radio Shack then. She quit..................
I bought a pocket radio there last year, so that I could listen to Rush. Cost me $12.
Unrelated. Target had just entered the Canadian market, and fast discovered (for whatever reason) it’s not viable; getting out of the hole before they dig deeper. Radio Shack has been an American icon for many decades (once dominating the personal computer industry), spending the last fading into oblivion as nobody goes to a small store for generic or specialty electronics any more; in the 20th century, electronics were a relative novelty, but in the 21st they’re incredibly pervasive ... and RS is still operating on the 20th century model.
Had to buy a specialized fuse for a long arm quilting machine. About 2 bucks. But don’t know where I would have found it without a Radio Shack. I bought all they had in stock expecting this day.
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