U.S. retail giant Target Corporation has named a president for its Canadian operations following last Thursday’s announcement that the discount chain is expanding into Canada and plans to open its first Target stores here in 2013.
Tony Fisher, who joined Target in 1999, will take the helm to establish the company’s headquarters in Canada and lead day-to-day operations, according to a press statement issued Tuesday.
Fisher was promoted to vice president of merchandise operations in 2010 and in this role he led efforts to enhance customers’ in-store shopping experience through technology advances and process improvements, the statement said.
Last week, in a move that is predicted to dramatically change the face of retail in Canada, Hudson’s Bay Company announced that it had sold a majority of its Zellers Inc. subsidiary to the Minneapolis-based retail chain.
In the $1.825 billion deal, Target will take control of up to 220 Zellers stores across Canada and in the next three years will spend about $1 billion converting 100 to 150 of them to its own banner.
“This transaction provides attractive long-term value and will allow us to invest substantial capital into our department store and speciality store business to continue to drive growth,” HBC Governor Richard Baker said in a news release.
In addition to Zellers, HBC operates the Bay department store; the Home Outfitters kitchen, bed and bath speciality store; and Fields discount stores.
Zellers will sublease its sites back from Target and continue to run them as Zellers stores for a time period. Some Zellers sites will also be assigned to other retail enterprises, the HBC news release said, and Zellers will continue to operate stores in specific communities across Canada.
HBC estimates that Target’s foray into Canada will create more than 20,000 net new jobs and generate over $1.5 billion in economic activity for Canadians through Zellers store renovations.
“This transaction provides an outstanding opportunity for us to extend our Target brand … beyond the United States for the first time in our company’s history,” said Gregg Steinhafel, chairman, president, and CEO of Target Corp., in a statement.
The company says each Target store in the U.S. typically employs 150 to 200 staff.
Target will also bring its commitment to donate 5 percent of its income to support programs in the communities where its stores operate.
Meanwhile, Target is fighting a court case over ownership of naming rights in Canada, according to the Canadian Press.
Fairweather Ltd., owned by discount menswear chain International Clothiers, owns the “Target Apparel” name as a registered trademark in Canada.
The U.S. retailer has filed a complaint claiming that Fairweather has not been using the Target name. If Target loses the case, it may have to use a different name in Canada or offer to buy the Canadian rights to the name.
Zellers has struggled since the mid-1990s when Wal-Mart expanded into Canada by buying 100 Woolco stores. Today Wal-Mart operates more than 300 stores across Canada.
Target currently has 1,752 stores in 49 U.S. states.
Tony Fisher, who joined Target in 1999, will take the helm to establish the company’s headquarters in Canada and lead day-to-day operations, according to a press statement issued Tuesday.
Fisher was promoted to vice president of merchandise operations in 2010 and in this role he led efforts to enhance customers’ in-store shopping experience through technology advances and process improvements, the statement said.
Last week, in a move that is predicted to dramatically change the face of retail in Canada, Hudson’s Bay Company announced that it had sold a majority of its Zellers Inc. subsidiary to the Minneapolis-based retail chain.
In the $1.825 billion deal, Target will take control of up to 220 Zellers stores across Canada and in the next three years will spend about $1 billion converting 100 to 150 of them to its own banner.
“This transaction provides attractive long-term value and will allow us to invest substantial capital into our department store and speciality store business to continue to drive growth,” HBC Governor Richard Baker said in a news release.
In addition to Zellers, HBC operates the Bay department store; the Home Outfitters kitchen, bed and bath speciality store; and Fields discount stores.
Zellers will sublease its sites back from Target and continue to run them as Zellers stores for a time period. Some Zellers sites will also be assigned to other retail enterprises, the HBC news release said, and Zellers will continue to operate stores in specific communities across Canada.
HBC estimates that Target’s foray into Canada will create more than 20,000 net new jobs and generate over $1.5 billion in economic activity for Canadians through Zellers store renovations.
“This transaction provides an outstanding opportunity for us to extend our Target brand … beyond the United States for the first time in our company’s history,” said Gregg Steinhafel, chairman, president, and CEO of Target Corp., in a statement.
The company says each Target store in the U.S. typically employs 150 to 200 staff.
Target will also bring its commitment to donate 5 percent of its income to support programs in the communities where its stores operate.
Meanwhile, Target is fighting a court case over ownership of naming rights in Canada, according to the Canadian Press.
Fairweather Ltd., owned by discount menswear chain International Clothiers, owns the “Target Apparel” name as a registered trademark in Canada.
The U.S. retailer has filed a complaint claiming that Fairweather has not been using the Target name. If Target loses the case, it may have to use a different name in Canada or offer to buy the Canadian rights to the name.
Zellers has struggled since the mid-1990s when Wal-Mart expanded into Canada by buying 100 Woolco stores. Today Wal-Mart operates more than 300 stores across Canada.
Target currently has 1,752 stores in 49 U.S. states.
