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Canadian retail Sales Up, But Weak Spots Abound
Statistics Canada's latest numbers show a 4.6% increase in total retail sales in
May of 2014. Automotive & Related retail sales increased 6.9%, over double that
for Food & Drug with a 3.2% increase, or Store Merchandise with a 3.4% increase.
(Source
retail-insider.com)
 Is
It Time for Target to Exit Canada? The American Blunder - Expert Discussion
The company has lost about a billion dollars since it began operating up north
and, while it has pledged to do better, not everyone is convinced it will. In
fact, Credit Suisse has gone so far as to suggest that Target's new CEO,
whomever that turns out to be, should seriously consider getting out of the
Canadian market altogether. The Canada experience is symptomatic of what ailed
Target overall: Too much caution, too slow to react, too much faith that the
"brand" (versus good execution) would carry the day. Target needs to invest the
resources to understand Canadian consumers or needs to leave the market. The
Canadian market is not an extension of the U.S. market and is not homogeneous.
First Target took horrible Zellers locations no one else wanted. It would appear
the former CEO was overzealous and took available locations rather than build
ground-up in new good locations. Zellers had run them into the ground so deep
that Target will have to do better than a mediocre effort. Consumers associate
those locations with negative experiences. They would need new and better
locations, and we know that's not happening. Even if Target did have good
locations, it would take several years to overcome their mistakes. Target needs
to put on the brakes, regroup and go home. (Source
retail-insider.com)
Alberta small and mid-sized businesses take big hit from fraud
One in four Alberta small and mid-sized businesses (SMEs) were hit or targeted
by fraud artists last year. "It's credit card fraud. It's email phishing. It's
theft of equipment. It means there's now another set of skills needed to protect
the bottom line." Rank of retail among sectors reporting a fraud incident:1. Per
cent of fraud aimed at credit, debit cards: 29. Per cent involving theft of
equipment, inventory, other physical property: 27. Per cent of retail SMEs
reporting a fraud incident: 49. (Source
digitaljournal.com)
Sears Canada, Reitmans & Indigo face battle for survival with some close to
extinction Foreign retailers have flooded the Canadian market in
recent years opening hundreds of new stores and the pressure may be too much for
some long-established retail names in Canada. Years of complacency, and a
failure to innovate, could spell the end of many Canadian retail brands,” said
Craig Patterson, a retail analyst and the founder of the Retail Insider.
“Foreign players could obliterate our local retailers." (Source
cbc.ca)
Target Canada asks suppliers, vendors for a 2 percent cost break
World's largest fashion retailer to further expand Zara and Massimo Dutti in
Canada
Home Outfitters to be merged with Hudson's Bay's Home Division and a couple
stores will close
Drug gang enforcer charged in June's Brentwood Mall shooting
Retail Fast Facts: June 2014
Highlights:
Total monthly retail sales changed by 6.1 per cent over the comparable month
last year.
Total sales excluding food, automotive and gasoline changed by 4.6 per cent over
the comparable month last year. Read more (Source
retailcouncil.org)
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