January 16th, 2011 | posted by Rachel S | Posted in News
There are many many people who are going bananas over this new piece of news: Target – the giant US, low-priced department store that popularized the affordable designer collab movement bought out Zellers stores in Canada.
Of course you’ve already heard – as this is big news here in Canada. But the details are as follows: Hudson’s Bay Company sold off the lease to 220 Zellers stores for $$$1.825 billion dollars! Starting in 2013, a mere two years off, Target expects to open 100 to 150 Target stores throughout Canada. Currently however there is a court case being settled over the name, which currently belongs to the Canadian owner of Fairweather and International Clothiers stores.
Off course we should happily support Canadian business, but the opportunity for jobs with Target should be exceptional. Thousands of jobs through store renovations, expansions and new construction as well as subsequent store operations will be developed (a typical Target store in the US employs approximately 150 to 200) and since 1946, Target has given 5 percent of its income through community grants and programs; today, that giving equals more than US$3 million a week.