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Target Canada shutting down all 133 stores, 17,600 losing jobs.


AriGold

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I wouldn't count on it. Internet competition + broke Canadians = bad time to be a Canadian retailer.

Time for the mall owner to chop that part of the building and put in residences before that bubble pops too.

The housing market in vancouver in't a bubble anymore thanks to rich Chinese immigrants and businessmen that buy out condos for investment. Right now, China's economy took over US as the first place with a GDP of $17.6 trillion, and when I visited China a month ago, I was shocked to see many wealthy people driving in their porsche or ferrari on streets of Guangzhou. With the Vancouver-China connection and the flux of Chinese immigrants, there isn't really a housing bubble anymore unless the Chinese people decided to pack up and invest elsewhere. In fact I think the housing prices in Vancouver might go up again. Anyways, thats a different story compared to the Canadian retail situation and Canada's economy.

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Never stepped foot in their stores, glad they are leaving. Wish they would take all the other American big box chains ie: Walmart with them.

The problem would then be an even crappier economy for Canada with more jobs lost. Do you want to see more people waiting at the welfare lines? Its all good and dandy but you also have to think of people who get laid off and the unemployment rate going up. More companies closing their businesses and shops in Canada is never a good thing for the Canadian economy when they should be promoting more companies to open up their businesses here.

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For $10 why not? Besides, I like the show enough to buy a physical copy to watch bloopers and all the other stuff that I don't get to see.

Notwithstanding that's a horrible show, it's that attitude that is the problem. We buy this crap we don't really need just cause its cheap and we can. Go spend that $10 at your local store or farmers market if you feel you have to spend it.

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Their whole approach to the Canadian market was lame, should have just opened the same stores they have in the US instead of doing something different.

I watched a segment on CBC news where they interviewed a market analyst about this story.

The way he put it, it was the arrogance of Target that was ultimately their downfall. They saw that Canadians had for years been cross-border shopping at their American outlets and figured that they would be successful in Canada, just by opening stores.

Apparently they believed that the Canadian consumer would be so stoked to have our own Target outlets, we wouldn't bother with things like price and selection comparisons...

They had to abide by Canadian laws, so they weren't allowed to price the items like they could in the U.S.A..

I wonder if the lack of success will deter Canadians from going to Targets in the U.S., although the one in the U.S. is much better, it might be stigmatized by its poor experience in Canada.

??? :huh:

Are you saying that there is a law in Canada that tells retailers they have to charge a certain amount for their products?

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Notwithstanding that's a horrible show, it's that attitude that is the problem. We buy this crap we don't really need just cause its cheap and we can. Go spend that $10 at your local store or farmers market if you feel you have to spend it.

What can your farmers market or local store provide for ten bucks that hours and hours of couch bliss can't rival?

Not everyone is required to live the hipster lifestyle.

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The housing market in vancouver in't a bubble anymore thanks to rich Chinese immigrants and businessmen that buy out condos for investment. Right now, China's economy took over US as the first place with a GDP of $17.6 trillion, and when I visited China a month ago, I was shocked to see many wealthy people driving in their porsche or ferrari on streets of Guangzhou. With the Vancouver-China connection and the flux of Chinese immigrants, there isn't really a housing bubble anymore unless the Chinese people decided to pack up and invest elsewhere. In fact I think the housing prices in Vancouver might go up again. Anyways, thats a different story compared to the Canadian retail situation and Canada's economy.

Let's see how things look when the full brunt of the retail situation and Canada's economy hits home. If oil hovers around 40 bucks a year or two it's going to be UGLY!

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What can your farmers market or local store provide for ten bucks that hours and hours of couch bliss can't rival?

Not everyone is required to live the hipster lifestyle.

Or don't spend it, donate it, whatever. Buying garbage just because you can seems dumb.

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Careful, this is how the collapse of western civilization will start. You don't want to be responsible for that, do you?

Collapse of Western Civilization has already started. It's collapsing under the weight of all the cheap crap we import from China :lol:

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For those who clearly have no clue about business models.

Walmart buys a large plot of land when they open a new store. Example being queensborrow new west. The land is cheap because no one is there. Once walmart is there retailers want to be close by as walmart is guarenteed traffic. This allows wartmart to not only keep prices lower, but also bring in huge lease income.

Target leases with retail sales without any other sources of income. This drives up their costs and gives them alot less capital and flexibility.

This being said walmart sucks to shop at but they run a brilliant business.

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For those who clearly have no clue about business models.

Walmart buys a large plot of land when they open a new store. Example being queensborrow new west. The land is cheap because no one is there. Once walmart is there retailers want to be close by as walmart is guarenteed traffic. This allows wartmart to not only keep prices lower, but also bring in huge lease income.

Target leases with retail sales without any other sources of income. This drives up their costs and gives them alot less capital and flexibility.

This being said walmart sucks to shop at but they run a brilliant business.

Brilliant for their bottom line, horrible for everyone else. They purposely build walmarts to fail knowing it will kill all other competition.

They open more than they need knowing that but also backing on saturating an area with cheap crap running all the competition out of business. Then they close the excess walmart and all a community is left with us the one big walmart. They've killed everything else.

Again, great for the execs, bad for everyone else.

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What can your farmers market or local store provide for ten bucks that hours and hours of couch bliss can't rival?

Not everyone is required to live the hipster lifestyle.

what do farmer's markets have to do with hipsters? I've been selling at our local farmer's market for almost 15 years and I see a huge variety of people, all of whom would rather put $ into the hands of local farmers/artisans than a corporation........with the added benefit of knowing where their food comes from.

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Brilliant for their bottom line, horrible for everyone else. They purposely build walmarts to fail knowing it will kill all other competition.

They open more than they need knowing that but also backing on saturating an area with cheap crap running all the competition out of business. Then they close the excess walmart and all a community is left with us the one big walmart. They've killed everything else.

Again, great for the execs, bad for everyone else.

That's just competition. Walmart sell crappy stuff... if I don't want crappy stuff, I shop elsewhere. Places that sell higher quality goods gets my business and those businesses profits.

If a smaller business has something worth supporting, I'll support them. I regularly shop at Superstore/Walmart, but I still swing by Stevenson for salmon, sometimes even paying a premium for it. I check out those Farmer's Market once in a while to get some fruits/veggies, weather depending. When I want a new laptop or some parts for my PC, I go to NCIX. Fashion/clothing, across the border or overseas. Sports clothing, MEC or whatever. Businesses that adapts still prosper.

The whole "Walmart is evil" mantra doesn't hold much water as some would like you to believe.

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That's just competition. Walmart sell crappy stuff... if I don't want crappy stuff, I shop elsewhere. Places that sell higher quality goods gets my business and those businesses profits.

There's the real problem. Too many people want crappy stuff.

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The walmart bashing in here is pure comedy. They are in fact the largest grocer in the US what are these crappy goods people keep talking about ? WTF are they on. It is the same exact product at every store, just marked up beyond comprehension. Can of soup at wal mart 2.00 Same can of soup at sobey's 3.50 @ superstore 2.75 @ safeway 2.95 ?

So now that the bottom of the oil barrel has fallen out will we see a drop in goods and services ? They have to make up the margin somehow these greedy bastards.

Wal mart has buying power and that means they sell their products, the same products at all the other stores. I shop for specific items at specific places because of specific prices. If you dont then you are throwing your money away.

The only reason why people bash wal mart is because they feels the are to good to walk into a store more than half the populace does to buy items.

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