Target Canada owes more than $5B and has lost about $7B so far!
Target Canada owes money to nearly 1,800 businesses around the world, from India to Shanghai and Brampton to Winnipeg. The list runs 44 typed pages. Target Canada announced last week it was seeking creditor protection as it winds down operations, closing all 133 stores and putting 17,600 people out of work over the next five months. It has lost about $7-billion on its Canadian operations so far. On paper, it seems that Target is in a position to pay off all creditors in full, with assets and liabilities both in the $5-billion range. But the true value of the recorded assets is always less than stated. Target Canada has 30 days from the date of filing for creditor protection to present a plan that will satisfy creditors. It may also seek a 30-day extension from the courts, said Smith. thestar.com

Nordstrom better positioned than Target to take on Canadian expansion
Nordstrom is known for being a leading retailer in the digital space - something that will help the company succeed in Canada, a country where the population is dispersed over huge distances. Nordstrom also sources some of its products locally instead of making all its purchases centrally like Target did. That means merchandise differs depending on location. This customization shows a respect for local customers, said Seattle retail strategists Pat Johnson and Dick Outcalt of Outcalt & Johnson: Retail Strategists LLC. "Nordstrom has been planning this for a long time and they've been doing their homework," Johnson said. bizjournals.com

Walmart Canada opening 11 new supercenters by Jan 29th bringing it's Canadian store count to 394  Of special note here is that Target sold them approx. 30 of the Zellers leases when Target bought them from Hudson's Bay.

Giant Tiger to open eight stores in six months

Saks Fifth Avenue Off 5th to anchor new Ottawa Tanger Outlets - as many as 25 may be opening in Canada

Retail Fast Facts: December 2014

Highlights:
● Total monthly retail sales changed by 5.4 per cent over the comparable month last year.
● Total sales excluding food, automotive and gasoline changed by 5.7 per cent over the comparable month last year.  retailcouncil.org

Security high at sports stores
Hockey stick thefts are not as common as they used to be, in part due to increased security at sporting goods stores. That's what staff are considering at Marc Sport Source for Sports in Gatineau after $28,000 were taken in a brazen, front-door theft last week. It's the only way Ralph MacLean believes he was able to stop the break-ins when he worked at Valiquette Source for Sports in Ottawa. "I keep upping the security until the only way they could get in was to drive through the side door -- and they did that," MacLean said. Only after pillars were installed in front of the door did the break-ins stop, he said. MacLean heard about another store where thieves cut a hole in the roof to get at the valuable composite hockey sticks. Houle Sports, where he works now, was also targeted years ago for a large number of hockey sticks. Similar to what happened in Gatineau, the thieves showed up with a van and filled it with sticks -- except in that case, they jimmied the back door instead of the front. "They have bars on the windows now," he said. ottawasun.com

Three men arrested in Burlington baby formula thefts
In an unusual case, Halton police says it has arrested three males for allegedly stealing baby formula and cosmetics from two Burlington stores. Investigators say that on Tuesday, just before 8 p.m., three men stole a large quantity of baby formula from the Shoppers Drug Mart at 1450 Headon Rd. A store employee followed one of the suspects and was pushed from behind by a second suspect to allow the men to enter a vehicle and flee. About half an hour later police located the vehicle near the Shoppers Drug Mart at 2080 Appleby Line. One of the suspects was arrested near the vehicle while two other men were arrested after leaving the store with more allegedly stolen baby formula and cosmetics. Police have recovered all the stolen property from both stores. Five cases of formula stolen were from the Headon Road store. It was unknown how much was taken from the Appleby Line store. insidehalton.com

Hamilton man charged in jewelry store robbery
Police say two men entered the store at the Eastgate Square at about 8:30 p.m. last Thursday, one of them armed with a hammer and the other with a gun. It's alleged the man with the hammer grabbed merchandise behind a display counter before staff confronted him and fought to subdue him, while the other man fired his gun before fleeing in a vehicle. The man with the hammer was arrested and was treated in hospital for non-life-threatening injuries that police say he received during the struggle. Jonathan Miljanovic is charged with four counts of robbery with a firearm and is also charged with wearing a disguise with intent. insidehalton.com

Razor blade taped to Cross Iron Mills shopping cart prompts RCMP investigation

Mountie uses his car to push fleeing 7-Eleven Armed Robber off road