Wednesday, July 23rd14.4°C
21452
21901

Kelowna joins the Target expansion

Kelowna will get it's Target after all.

Target announced Friday the completion of their real estate transaction with Zellers Inc. with the selection of 84 additional Zellers leases, bringing the total number to 189.

From this second group, Target has acquired the leasehold interests for 29 locations, the vast majority of which will open as Target stores beginning in 2013, including in Kelowna.

The West Kelowna location is not a part that second group, which did include 10 other B.C. locations including Penticton and Kamloops.

Only Ontario with 36 stores and Quebec with 16, will have more locations than B.C.

“Target is excited to take another meaningful step toward our expansion in Canada,” says Tony Fisher, president, Target Canada.

“We look forward to delivering a superior shopping experience for our guests throughout Canada and building on our strong reputation as a good neighbour and partner in the communities in which we do business.”

Target announced in January that it would purchase, for $1.825B, the leasehold interests of up to 220 sites currently operated by Zellers and owned by the Hudson’s Bay Company.

In May, Target selected an initial group of 105 leases spanning all 10 provinces, in conjunction with its first payment to Zellers Inc.

The vast majority of those sites were also slated to become Target stores in 2013. Kelowna was not included in that grouping.

Target plans to open 125 to 135 stores in Canada, the majority of which will open in March of 2013.

Before the new stores open, they will undergo a six to nine month closure as they undergo a $10 to $11 million  remodelling prior to opening.

Each store in Canada will employ approximately 150 to 200 workers.

The Minneapolis-based Target Corporation includes 1,762 stores across the United States and currently has over 5 and a half million "likes" on Facebook.



Read more Business News




Recent Trending




Today's Market
S&P TSX15315.13+65.14
S&P CDNX1010.884.40
DJIA17113.5461.81
Nasdaq4456.016+31.312
S&P 5001983.53+9.90
CDN Dollar0.9323+0.0011
Gold1313.40+4.2001
Oil104.30-0.29
Lumber332.50+6.20
Natural Gas3.78+0.008

 
Okanagan Companies
Pacific Safety0.200.00
Knighthawk0.01-0.005
QHR Technologies Inc1.19+0.04
Cantex0.06+0.005
Anavex Life Sciences0.33-0.018
Metalex Ventures0.07+0.005
Russel Metals35.60+0.61
Copper Mountain Mining2.83+0.14
Colorado Resources0.215+0.015
ReliaBrand Inc0.10+0.019
Sunrise Resources Ltd0.025-0.005
Mission Ready Services0.19+0.01

 



22439

FEATURED Property
19809871515 Highland Drive
4 bedrooms 3 baths
$437,900
more details
image2image2image2
Click here to feature your property
Please wait... loading


Labour shortage in BC

The mainstream media are finally waking up to something unusual in British Columbia – a labour shortage. If the experience of Alberta is a guide to our own future, the highly skilled labour will...


Learn to delegate effectively

Photo: ContributedI have the pleasure of witnessing people delegate tasks quite often. Sometimes with tremendous success and sometimes with disastrous consequences. I have chaired a lot of committees...


Euro debt woes re-emerge

Big Picture Euro debt woes re-emerge Europe’s debt woes jumped back into the headlines this week trumping other economic, geopolitical and corporate developments. Word that one of Portugal&rsquo...

_








Member of BC Press Council


22707