With the aim of solidifying its store base in Canada,
), the operator of general merchandise and food discount stores,
announced plans to open 20 new additional stores spread across
Alberta, British Columbia, Ontario and Saskatchewan. The stores
are slated to be opened from Jul 16 to Jul 30.
The company has been focusing on the Canadian market for quite
some time now and intends to strengthen its position in the
region by opening 124 stores in 2013.
We believe that store expansion outside the United States will
definitely boost the company's top and bottom lines and improve
its cash flow generation capability. The broadening of its store
base facilitates Target to effectively penetrate into its desired
markets and gain a competitive advantage over its peers.
The stores will carry items ranging from beauty and apparel to
home, grocery, and personal care. Some of the brands that would
find shelf space in the Target stores include Nate Berkus
Collection, the Sonia Kashuk Collection, Giada De Laurentiis and
Shaun White apparel. The stores would also feature a wide range
of Target owned and exclusive brands, such as C9 by Champion,
Circo, Archer Farms, Market Pantry and Up & Up.
Besides seeking promising expansion opportunities in
international markets, the company introduced smaller-format
stores called CityTarget, similar to that of its biggest rival,
Wal-Mart Stores Inc
Alongside, Target plans to sustain its remodeling program at
existing general merchandise locations by the addition of an
expanded food section along with a greater assortment of dry
dairy and frozen items, improved store layout and enhancement of
in-store shopping experience across departments such as apparel,
home, beauty, shoes and baby.
The company also announced its year-round price matching
policy with the aim of offering its patrons the facility to match
the prices being offered by online retail giants.
The company will match prices with
) Amazon.com, Wal-Mart's Walmart.com,
Best Buy Co. Inc
) BestBuy.com, and Toysrus.com. Target believes that its price
matching policy coupled with the REDcard reward program would
provide it an edge over its competitors.
Currently, this Zacks Rank #4 (Sell) company operates through
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