Target isn’t the only U.S.-based discounter interested in Canada these days. Walmart’s Canadian division announced that it plans to spend $500 million opening 40 new supercentres and expanding, remodelling or relocating existing stores in the coming year. The expansion includes the discount chain’s first stores in the provinces of Manitoba and Quebec.
Earlier this month, Target inked a deal to pay Canadian retailer Zellers $1.845 billion for the leasehold interests in 220 of its stores. This transaction will allow Target to open its first Target stores in Canada beginning in 2013.
Walmart Canada’s supercentre format, which was first launched in Ontario in 2006 and is available in Alberta, British Columbia and Saskatchewan, provides a full range of groceries and general merchandise under one roof. Walmart Canada operates 325 stores —of which 124 are supercentres.
Neither retailer has announced specific sites yets.
Compiled by the staff of Shopping Centers Today. © January 27, 2011 International Council of Shopping Centers.