![]() ![]() You can already begin to see the IT challenges, can't you?Īn inventory system that was set up to handle U.S. ![]() In Canada, that shelf is 60.96 centimeters. To the people in the U.S., a 2-foot deep shelf is a 2-foot deep shelf. That conversion rate is constantly fluctuating. Sure, it uses dollars, but at the time of this writing a Canadian dollar is worth only 72 percent of an American dollar. That should have been easy, right? After all, Americans and Canadians speak the same language (ignoring the French-speaking Québécois) and most Americans somehow seem to think of Canada as their 51st, more polite, colder state to the north.īut it's not that simple. Not only that, but the chain expected to be profitable within its first year of operations. Under Gregg Steinhafel (Target’s CEO at the time), the company paid $1.8 billion for the leases to the entire Zellers department store chain in 2011 and formulated a plan to open 124 locations by the end of 2013. The corporation’s entry into Canada was uncharacteristically bold-not just for Target, but for any retailer. Target was a careful, analytical and efficient organization with a highly admired corporate culture. But Target, it seems, wanted to be more like Walmart. Target is a $72 billion company, certainly not small potatoes. Walmart, by contrast, operates over 11,000 stores in 28 countries. What most Americans with three Target stores right in their neighborhood don’t realize is that Target isn't a worldwide thing. The 114-year-old company that evolved out of the old Dayton-Hudson Corporation now has more than 1,800 retail locations. Target is one of America's largest and most successful retailers. “After extensive internal due diligence and research, paired with counsel from outside experts, we fulfilled our obligation to do what was right for our company and our shareholders, and made the decision to exit Canada,” he wrote. In a blog post, Brian Cornell, Target’s chairman and CEO, said the decision to exit Canada was the best option available to the company. After accumulating $2.5 billion in losses, the Minneapolis-based company shut down all of its 133 Canadian locations and laid off 17,600 employees. Less than two years after entering Canada, Target shocked the retail world by pulling out. ![]()
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