Wal-Mart to Buy 13 Former Target Canada Stores, Plus Distribution Center -
Spending $289M - Adding 1.6M ft. of retail space - Creating 3,400 jobs
Wal-Mart Stores Inc. on Friday said it will acquire more retail and distribution
space in Canada from rival Target Corp., a few months after Target revealed
plans to exit out of its money-losing operations in the country. The retailer
will spend about 165 million Canadian dollars ($136 million) for 12 store leases
and one owned property, adding about 1.6 million square feet of retail space.
Wal-Mart will also buy one distribution center to add 1.4 million square feet of
distribution space. The company said it expects to invest an additional
C$185 million ($153 million) in renovations, bringing its total investment to
about C$350 million ($289 million). "Wal-Mart is committed to the Canadian
market, and this agreement helps us accelerate our growth plans," said Walmart
Canada Chief Executive Dirk Van den Berghe. In early January, Target said it
would shut its Canada operations, bringing an end to the discount chain's first
attempt to expand beyond the U.S. Meanwhile, Wal-Mart has been growing its
Canadian presence. In February, Wal-Mart unveiled plans to spend about 340
million Canadian dollars ($280 million) on 29 supercenter projects in Canada.
Walmart Canada currently operates 395 stores. The deal is subject to court
approval and certain other customary conditions, Wal-Mart said. Work at the
locations is expected to start within the next few months.
Wal-Mart's press release listing locations of the 13 new stores
Canadian Tire Corp acquires 12 Target leases for $17.7 million
Canadian Tire Corp. has concluded an agreement to acquire 12 strategic real
estate leases, formerly held by Target Canada, for $17.7 million. "We've been
tracking certain Target properties for some time and when the opportunity came
up, we moved quickly and secured virtually all of them. We chose 12 properties
that fit strategically and financially into our store network," said Michael
Medline, President and CEO, Canadian Tire. The 12 locations are cross-country,
in suburbs or smaller urban centres: four in B.C., two in Ontario, three in
Quebec, one each in Halifax, Winnipeg and Moncton.
Target Layoff could be 'single-largest one-time purge of jobs in Canadian
workforce history' As many as half of the 17,600 or so Canadian
employees Target laid off were let go in April as the chain was shutting down
the last of its 133 stores. The job losses are expected to see employment in the
retail sector drop by about 12,000 jobs, according to RBC Economics. RBC still
expects Statscan to show a gain of 3,000 net new jobs across the economy in
April, but "the monthly increase is expected to be restrained by the layoff of
Target workers," Paul Ferley, assistant chief economist said. Others aren't as
optimistic. BMO believes the economy shed 15,000 jobs last month - half of
which can be attributed to the Target layoff, an event that could be the
single-largest one-time purge of jobs in Canadian workforce history, BMO
chief economist Doug Porter said. With thousands of retail workers suddenly
without work, the jobless rate is expected to climb a tick to 6.9 per cent.
J.C. Penney drawing battle lines - decides to split with Canada's Loblaw chain
Joe Fresh - The competition is heating up Loblaw Cos. Ltd. will drop
its Joe Fresh fashion line from U.S. department-store chain J.C. Penney in 2016,
underlining the Canadian grocer's apparel challenges south of the border. Just
over a month after Joe Mimran, creator and namesake of Joe Fresh, left, Loblaw
is now embarking on a new path in the United States under a new leader. Mario
Grauso, president of the cheap-chic clothing line and a veteran U.S. fashion
specialist, said on Thursday the company will wind down its partnership with
J.C. Penney, cutting ties with it entirely by early next year. "By mutual
agreement, Joe Fresh and J.C. Penney have determined to not renew our existing
distribution agreement that expires on January 30, 2016," Mr. Grauso said in a
brief e-mailed statement.
Canadian Security's Focus On Retail Security one-day seminar
A valuable opportunity for anyone interested in learning more about the latest
techniques to combat retail crime. You can expect to hear more about: ●
Organized Retail Crime
● Restorative Justice ● Online Fraud For full agenda and registration details
First three Saks Off Fifth stores opening in Ontario next spring
Best Buy CA takes on Amazon with 'marketplace' selling of other retailers'
Toronto Mayor John Tory supports swapping some cops for civilians
RCMP looking for credit card fraudsters hitting stores throughout Alberta &
Calgary RCMP are seeking the public's help in identifying four people
who used the numbers of a stolen credit card to make fraudulent purchases
recently worth more than $5,000 at a business in Magrath. Raymond RCMP officers
report the same credit card numbers may have also been used throughout Alberta,
more particularly in Barrhead, Morinville, Hinton and Calgary.
Mounties Cuff Canadian 27-year-old woman Webcam Hacker
She's also accused of running an online hacking forum with 35,000 members
worldwide. The Mounties alleged that the woman posted YouTube videos showing her
actually carrying out the offenses - that is, remotely controlling victim
computers and intimidating their owners.
Woman dies of injuries after being hit in parking lot of Vancouver store
A 60-year-old Vancouver woman died in hospital a few days after suffering a
serious head injury when she was hit by a pickup truck in the parking lot of
the Real Canadian Superstore on Southeast Marine Drive. The truck was
driving up the ramp off Prince Edward Street when it hit the woman, who was
walking along a foot path, Vancouver police said. Her name has not been
released. The driver remained at the scene and is continuing to co-operate
with police. Speed, alcohol and distracted driving do not appear to be
factors in the collision. It is Vancouver's sixth traffic fatality this
year, and four were pedestrians.
Cargo Theft: Brampton man charged with tractor-trailer thefts; nearly
$100,000 of bread and dog food A Brampton man has been charged
with tractor-trailer thefts that occurred in Halton Hills and Milton.
Shortly after 8 a.m. on Monday (May 4) the victim of a tractor trailer theft
observed the stolen transport truck travelling on Steeles Ave. in Halton
Hills. Police were able to locate the vehicle in Milton and followed it into
a trucking yard. The driver was arrested without incident and transported to
12 Division in Milton. Investigation revealed, the male was responsible for
the theft of a trailer filled with bread products valued at approximately
$45,000 and a trailer filled with dog food valued at approximately $53,000.
Police were able to recover the stolen bread products along with a stolen
Freightliner Transport truck from Mississauga.
Vancouver GameStop store robbed at gunpoint
Police are looking for a man after he robbed a Vancouver game store at
gunpoint Thursday afternoon. Vancouver Police Department said around 4:20
p.m. a call came in about an armed robbery at the Game Stop located in the
200 block of NE 104th Ave. When police arrived to the store, the clerk told
them the suspect came in and displayed a small silver revolver and demanded
cash. The suspect told the clerk to get face down on the floor and then left
the store on foot. A Vancouver K-9 patrol responded, but did not find the
RCMP investigating assault at Sherwood Park