Target buys Zellers leases from Hudson’s Bay Co.

U.S. chain plans to convert 100 to 150 stores


 

Minneapolis-based retailer chain Target has purchased the leases of 220 Zellers store locations in Canada for $1.8 billion. Two cash payments of $912.5 million will be made in May and September of this year, and Target will convert 100 to 150 Zellers locations into Target stores, while selling off the remaining locations to other retailers. The purchase reportedly has its perks for the Canadian economy: It is expected to create jobs, Target will be investing $1 billion in revamping the store locations, and Hudson’s Bay Co. can now focus the Bay brand, having sold off an underperforming asset at a profit.

CBC


 
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Target buys Zellers leases from Hudson’s Bay Co.

  1. From one US owner to another – BUY CANADIAN!

    • Having American-owned companies dominating doesn't seem to be hurting China any, bud.

      • how old r u?

  2. Hopefully they pay better than Zellers did. This could be all-around good news for Canadian shoppers. Doesn't Target have some exclusive contracts with record companies as well?

  3. Having never been to a Target Store…Is there anything to be excited about ? My Wife is all ''ooh and yipee "….Am I missing something ?

    • It's very smart retailing. Zellers is just a dump.

  4. Target's niche is lower priced fashion oriented clothes, so that is likely why your wife is "ooh and yipee".

    • Thanks for the heads up SP1a….What to do, what to do ??

  5. Target funnels hundreds of thousands to anti-gay organizations. One more reason not to shop at Zellers.

    • Facts please ….

      • what's that supposed to mean? It's not even a complete sentence. If you mean EVIDENCE, then you have only to Google "Target anti-gay"

        • nicknjh: RE, whats that supposed to mean?… Definition of fact : ( 1.) Something known to be true. (2) Something known to exsist or to have happened. An excellent example of the answer I was seeking ,was given in the post below this one, given by ''Terry. '' except Terry's wasn't as dramatic as yours…

          • Whoops! I accidentally clicked the thumbs-up button instead of thumbs-down.

          • I was of course referring to nicknjh's homophobic remark.

          • What homophobic remark??

        • Coming from a family that has several gay married couples-all advocates for gay rights….that is total bull#@&^!!!! Just because you google something and it comes up on a website does not make it true. Just because you read it on the Huffington Post does not make it fact. It does not take long to trace the roots of the perpetuated lie if you just make an effort. We have REAL homophobic issues to fight here in America – please don't deflect from the the real issues with trash!

          • tryandkeepup.. Good post…..That is exactly why I asked ''nicknjh'' for the facts, but I doubt if there will be a response…..

          • Are you alleging that it's not true? All you had to do was look it up yourself. There's ample evidence.

          • nicknjh…Are you trying to respond to me? or '' 'tryandkeepup?''

          • "Target funnels hundreds of thousands to anti-gay organizations."

            Your statement. You provide the facts.

    • There's been one high profile case where Target donated $150,000 to a political candidate who had ties to an evangelical Christian organization that was "anti-gay". On the other hand, Target has been a big supporter of LGBT employees and has donated to the Twin Cities Pride organization.

      • Actually, not just one case. Aside from the $150,000 donated to politicians who ran on explicitly anti-gay platforms, including removing marriage and adoption rights and removing civil rights protections, there were even more donations after the CEO apologized, including to some of the very same politicians. That is exactly why Target is the subject of a boycott in the US, despite their otherwise apparently gay-friendly policies.

  6. It is true that Target funds Anti gay groups .. I can't believe Canada is allowing them in.. there goes another good country of non hate

    • Hey, it is not like a country can keep a company out. Only customers can show their disapproval by not shopping there if the information is accurate and not an urban myth. After all, remember that ridiculous story about Tommy Hilfiger being anti-semetic.

  7. Thanks for the info…I will look it up ….

  8. I was saddened by the news, being a ten year HBC (the Bay division) employee. This had been rumored since the early days when HBC took pver what was left of Woodwards. There has been many changes over the years (Remember how Wal-Mart was initially received when they bought Woolco – which was originally a division of Woolworths- both U.S. based).
    The lines really blur when you "buy Canadian", to find where the products you buy originates.
    In the long run, I would rather have a company helping the Canadian economy with jobs, and be a more stable company all around…then having a company that has been gasping for far too long.

    In regards to the homophobic agenda, that will come out in time. I do hope that Target will realize tollerances are different up here, and not support those actions.

    It will be an interesting learning curve for Target, much like the Wal-Mart takeover of Woolco….

    • I left the Bay when things started really turning towards the worse about 9 years ago.

  9. Now all Target has to do is buy the name "TARGET" here in Canada cause I.N.C ( International Clothiers, Fairweather etc ) owns the name rights in Canada

  10. Please, Target is anti-gay…give me a break. My bet is they will happily sell their products to hetero's and homo's alike…no questions asked. This company is all about turning a profit and maintaining a consumer friendly appearance. They are not going to damage that by funding anti-gay organizations. If they did donate to a candidate who had a tie to such a group, my bet would be he/she stood for other issues that were pro-business, and that is where their focus was in donating.
    And please fellow Canadians, get off the "buy Canadian" rant. Take a look around your house and see where your electronics, appliances, plates, forks, knives, clothes, etc, etc are made…..We live in a global economy…get over it and learn to compete.

    • Buy Canadian lets get real !!1 Zellers and HBC never supported Canadian manufacturers any more than others.
      If they could by in China or anywhere else cheaper they would. Price was the bottom line and of course the trips for the buyers.
      Why buy from a manufacturer in Belleville when you can take a company paid trip for a few weeks to the orient or Europe.

      "BUY CANDIAN" is a myth.

  11. Im SOOO happy!!! Zellers is an eye sore and dump. Every Target I have ever been into has always been, CLEAN, ORGANIZED, FRIENDLY and stalked up. This is a great thing for Canada. Now if we could just get Macy's, and Nordstrom's to come on up!

    • STOCKED up

  12. I left the Bay almost ten years ago, after nearly a decade with the company. There was much hope in the West when they took over Woodwards. Around mid-nineties forward, though, as an employee…you could slowly see the cracks in the system.

  13. Enter text right here!a great move for Target. I knew they'd been wanting into the Canadian market for a while, but it's tough to be able to find locations of 20,000 sq feet and bigger they need to compete with WalMart. Now they've got a bunch of locations.

  14. Buy Canadian lets get real !!1 Zellers and HBC never supported Canadian manufacturers any more than others.
    If they could by in China or anywhere else cheaper they would. Price was the bottom line and of course the trips for the buyers.
    Why buy from a manufacturer in Belleville when you can take a company paid trip for a few weeks to the orient or Europe.

    "BUY CANDIAN" is a myth.

  15. Cool…kill off that eye sore Zellers…hopefully HBC will get it's act together, if not, they'll be put out of their misery too..

  16. poor Zellers. I'd like to read the mythology of Mr. Zeller and how created his empire, but it's curiously overlooked in Canadian business history. Wikipedia tells me the company was an expansionary behemoth from 1931-1960 that cut a wide swath through canadian retail and ended up dueling with HBC in a reverse takeover battle that HBC won. In my lifetime it's been the last gasp of Canadian retail that makes you think it's still the Great Depression.

  17. one of my high school teachers, an intimidating ex-bodyguard for Pierre Trudeau, instituted a detention program called Club Z after the Zellers frequent buyer incentive plan. good times.

    • I wish my high school Teachers would have had that plan…I would have had enough points to furnish a three bdrm. bungalow.

  18. How disappointing:(

  19. i'm not exactly sure what is in Target but I imagine it is just a better Winners …anyhoo, it's common knowledge Canadians pay too much compared to the Americans ..stores like this will help if they keep price parity

  20. Well, if there's one thing Target is NOT, it's not a better Winners. It's a clean, stocked up, competitive alternative to Walmart where you can shop without guilt (well, less at least) And it's quieter too than Walmart with it constant crappy loudspeaker exhortations for employees or managers to extension 123 for some sorely needed assistance! At Canadian Tire the employees wear headsets to talk to one another at least. Come On Target, and we don't mind if you are called Tarjay in Quebec

    • Winners and Homesense sell markdowns – the stuff that didn't sell the first time.

  21. I only went to a Target a few times while in Florida. For me it was like being in a Zellers: clothes on the floor all over the place and cheap crap. Apparently, I did not go in their best store.

  22. Hooray!!… Zellers has always been a dump: store architecture is depressing, prices are always a mystery, until you're ready to pay, products on the shelves are dusty, and employees have no idea of what they have in stock, or what the offers are… not even to mention that stuff is overpriced, and usually sold in bad shape. Thank you Target for starting the process of erasing one of Canada's biggest and saddest shameful stores: Zellers!

    • The stores definitely need a clean up that's for sure. You got it all right, seems you've shopped there often to figure all that out – haha. Their product is in bad shape because it comes off the trucks in bad shape – who knows how it got that way, but I am tired of it and can't wait for this big change.

    • erasing one of Canada's biggest and saddest…… DUMP DUMP every walmart i have ever been in( alberta b.c. ontario new brunswick and newfoundland) were dumps.The staff were not to be seen the cashiers never uttered a word except how much was owing to them needless to say i don't shop at wal-martians anymore i just go for a laugh.

    • Hey I used to work there not all zellers are like that! And also don’t blame us for making it messy that’s the customers fault they don’t give a shit

  23. You cannot buy canadian as nothing seems to be made in canada anymore everything is made in china or bangladesh or india or mexico

  24. hi. i like targets!

  25. poop