Target Corporation, a retail giant in the United States, announced plans on January 13, 2011, to move northward into Canada. The corporation has revealed that it will purchase 200 sites from Zellers Inc,. a subsidiary of the Hudson's Bay Company (HBC). The Target Corporation currently owns 1,752 stores in 49 U.S. states. The company operates a credit card segment and gives five percent of its income to community grants and programs, something it has done since 1962.
Target Stores Move Into Canada By 2013
On January 13, 2011, the company announced on its website, the company's plans to open the first Canadian Target store in the beginning of 2013. This is the first time in the company's history, that Target will move outside of the United States borders. In May and September 2011, Target is expected to pay Zellers two equal payments of $912.5 million. Zellers will continue to sublease the space an operate under the Zellers name for a period of time.
