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Target to Hire in Canadian Stores - Analyst Blog
10/2/2012 4:52:00 PM
Target Corporation ( TGT ), an operator of general merchandise stores, plans to recruit hundreds of employees for various store designations, in Canada. The company has planned to open 24 stores in Ontario (in Canada) by the end of first three months of calendar year 2013.
Target revealed that each of the Ontario stores will employ about 150-200 heads throughout the season and will offer a moving career in the retail market with various opportunities coming their way. Moreover, the company is interested in hiring the employees who want to be involved in part-time employment.
Target is seeking capable employees who have the required expertise to assist in bringing the company's brand into recognition in the new market. The company has started receiving the curriculum vitae (CV) from the interested candidates. Further details for this hiring program are available on the company's website.
The move by the company to recruit employees will help to bring down the unemployment rate in the struggling economy.
In addition, the company is looking for pharmacy franchise owners to run pharmacy business in all the possible stores in Canada. This will surely help to increase customer traffic and will help to bring company's brand into recognition in the new Canadian market.
Target had earlier announced that it remains on course to open 125 stores in Canada by the end of 2013. We believe the opening of stores outside the United States will boost the company's top and bottom lines and improve its efficiency in generating a steady cash flow.
Target aims to exceed $100 billion in sales and achieve earnings per share growth at a CAGR of approximately 10% to 12% per year, resulting in annual earnings of over $8.00 per share or more by 2017. The company also expects to achieve 3% annual growth in comparable-store sales on an average.
Currently, we have a long-term Neutral rating on the stock. Moreover, Target, which competes with Costco Wholesale Corporation ( COST ), holds a Zacks #3 Rank, translating into a short-term Hold recommendation for the next 1-3 months.
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