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CMO to oversee Target's Canadian venture
MINNEAPOLIS — Target announced that its chief marketing officer, Michael Francis, will serve as the executive committee sponsor of Target’s entrance into the Canadian market. In this role, Francis will oversee the extension of Target’s brand as part of the corporation’s first-ever expansion of its stores beyond the United States, the company reported.
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Target sets sights on Canada
MINNEAPOLIS — Just days after announcing 2011 U.S. expansion plans, Target announced an acquisition in Canada that will enable it to open between 100 and 150 stores during the next four years.
The company announced that it has agreed to pay C$1.83 billion to purchase from Zellers, a subsidiary of the Hudson's Bay Co., the leasehold interests in up to 220 sites currently operated by Zellers. This transaction will allow Target to open its first Target stores in Canada beginning in 2013.