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01-13-2011, 11:22 AM
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#26 | | i like gifs
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Originally Posted by TOS'd  Yay, maybe now I don't have to drive to the states to pick up these  | 
that's the first thing I thought of when I heard about the news this morning
i have a jug in my office drawer right now  | 
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01-13-2011, 11:22 AM
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#27 | | The RS Freebie guru
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“When is Target going to buy Zellers and come to Canada?” has been the most-asked question posed to this reporter over the years at the office water cooler and at parties — it seems most consumers who have visited the cheap chic Wal-Mart rival as it successfully expanded across the U.S. prefer its cheap chic stylings to that of Zellers. (Close behind in popularity: “When is J Crew coming to Canada?” That is supposed to happen at a mystery location in Toronto later this year. Stay tuned!)
Five things you need to know about the Target/Zellers deal:
1. Target is not buying Zellers, per se. Target is shelling out $1.825-billion for up to 220 leasehold interests of Zellers locations that have yet to be decided. Zellers’ owner, U.S. real estate investor Richard Baker, took over the mostly-leased Zellers chain when he bought Hudson’s Bay Co. in 2008 for $1.1-billion. The worth of those long-term leases with large landlords such as RioCan Real Estate Investment Trust and and how much another business would pay for them were the largest barrier to a deal like Thursday’s under its prior two owners.
2. Zellers will still exist, albeit in a scaled-down version, for a while. There are currently 279 Zellers outlets across Canada and there is no guarantee at this point that Target will take over all but 60 of them — the Minneapolis-based corporation simply has bought the right to do so. The U.S. mass merchant wants to open 100 to 150 Target stores across Canada beginning in 2013, and Mr. Baker will keep operating many of the remaining locations as Zellers outlets until Target decides over the next few months which ones it wants to keep.
3. Zellers will likely disappear in the next five years. Industry experts predict Mr. Baker will negotiate the sale of the remaining leases to parties who want to cherry-pick locations that are compelling to them. Depending on the square footage and demographics, that could include established Canadian retailers such as Dollarama and Giant Tiger; parties that have been expanding and looking for big pieces of real estate, such as home improvement chain Lowe’s or Marshall’s, a corporate sibling to Winners and Home Sense; or retailers that have reportedly been eyeing the Canadian market, such as Kohl’s or J.C. Penney.
4. Canadians will finally be able to get their mitts on Target’s private brands, including its top-selling Target Home decor and furniture collection and limited-edition goods from partnerships with A-list designers such as William Rast or Stella McCartney. “We are very excited to bring our broad assortment of unique, high-quality merchandise at exceptional values and our convenient shopping environment to Canadian guests coast-to-coast,” said Gregg Steinhafel, Target’s CEO.
5. You can expect some attention-grabbing deals from Wal-Mart Canada as it prepares for Target’s entry. The world’s biggest retailer won’t take the arrival of its biggest U.S. rival into one of its top-performing markets in the world lightly.
Read more: http://business.financialpost.com/20...#ixzz1AwtBguQf | |
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01-13-2011, 11:34 AM
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#28 | | Banned By Establishment
Join Date: Aug 2005 Location: Burnaby
Posts: 2
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zellers fucking sucks.
such a crappy place to buy things, good riddance.
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01-13-2011, 11:41 AM
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#29 | | I'm better than you.
Join Date: Jan 2005 Location: East Van
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whatever zellers and target have similar theme colors anyways, the transition will be quick :P
__________________
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Buy & Sell Ratings!
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01-13-2011, 11:48 AM
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#30 | | Everyone wants a piece of R S...
Join Date: Oct 2010 Location: Space
Posts: 374
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targets cinnamon pretzels!! omnomnomnom
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01-13-2011, 11:48 AM
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#31 | | Diagonally parked in a parallel universe
Join Date: Apr 2008 Location: Vancouver
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I love Tarjay! Posted via RS Mobile | |
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01-13-2011, 11:51 AM
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#32 | | Diagonally parked in a parallel universe
Join Date: Apr 2008 Location: Vancouver
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Originally Posted by Shun Izaki zellers fucking sucks.
such a crappy place to buy things, good riddance. | Zellers rocked in the 80's, it was the place to buy toys. Now it's a dump and can't compete with the American wallymart, another Canadian business bites the dust...  Posted via RS Mobile | |
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01-13-2011, 12:12 PM
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#33 | | :inoutugh:
Join Date: Feb 2008 Location: ඞ
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Originally Posted by nicolaspal ^ when a can just isnt enough. | Can is like 99cents
Glass bottle is like $2.50
Jug is like under $3
Always come back with 6-8 jugs.
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01-13-2011, 01:28 PM
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#34 | | Rs has made me the woman i am today!
Join Date: Jun 2002 Location: Victoria
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zellers was good on monday..
my grandma loves shopping there coz monday is seniors day, extra 10% off
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01-13-2011, 01:33 PM
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#35 | | 14 dolla balla aint got nothing on me!
Join Date: Mar 2009 Location: Richmond
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Originally Posted by Jsunu I don't know what to think about this either....
on one hand I hate zellers.
on the other hand, it is just another example of our eroding Canadian market brand. | same way i feel dude
apathetic towards zellers however this is another example of the american corporate giant taking another canadian company. american corporate hegemony in north america ftl
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01-13-2011, 01:39 PM
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#36 | | Everyone wants a piece of R S...
Join Date: Dec 2010 Location: 852
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Originally Posted by clintonpoon88 same way i feel dude
apathetic towards zellers however this is another example of the american corporate giant taking another canadian company. american corporate hegemony in north america ftl | target has better prices than zellers anyways
and wry halo thar clinton, aldric here, i see you're a RSer LOL
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01-13-2011, 02:01 PM
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#37 | | Rs has made me the man i am today!
Join Date: Sep 2007 Location: Vancouver
Posts: 3,189
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Originally Posted by Presto By the way, for people in the know, it's pronounced "Tar-jay"  | TIL....
From now on, I will pronounce this brand in its proper French-esque syllabication.
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01-13-2011, 02:05 PM
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#38 | | Banned (ABWS)
Join Date: Jan 2011 Location: maple ridge
Posts: 111
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aww i like zellers, i buy my clothings there
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01-13-2011, 02:33 PM
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#39 | | MOD
Join Date: Oct 2002 Location: VANCOUVER
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Didn't think Target was anything special. Been to the one in bellingham a few times Posted via RS Mobile | |
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01-13-2011, 02:55 PM
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#40 | | My homepage has been set to RS
Join Date: Oct 2010 Location: Burnaby
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No one even mentions HBC's little division called "fields." Enjoy. http://www.fields.ca/en/about.html
I actually just googled it and was surprised it even exists anymore.
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Electrician.
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01-13-2011, 03:10 PM
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#41 | | "Entertainment" mod.
Join Date: Feb 2009 Location: Surrey, BC
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My nearby Zellers is a shithole, I only shop there when the toilet paper is on sale. Other than that, everything that isn't food is really old (ie. electronics).
It sucks to see another Canadian store bite it, but I wonder what Tar-jay will do with their new acquisition.
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Borokusowagen.
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01-13-2011, 03:31 PM
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#42 | | Even when im right, revscene.net is still right!
Join Date: Dec 2008 Location: Richmond
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I love the "Archer's Farm" brand food items offered by Target.
__________________ Quote:
Originally Posted by JSALES While driving yesterday I saw a banana peel in the road and instinctively swerved to avoid it...thanks Mario Kart. | | |
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01-13-2011, 04:19 PM
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#43 | | RS.net, helping ugly ppl have sex since 2001
Join Date: Sep 2008 Location: Vancouver
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does that mean my HBC rewards card is useless now since i don't shop at the bay or home sense............
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2014 Honda Civic Si | |
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01-13-2011, 04:51 PM
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#44 | | Rs has made me the woman i am today!
Join Date: Oct 2001 Location: Here! n There!
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bring fred meyer, as some of the prices are cheaper than walmart. i don't care any which way as long as the savings are in my pocket Posted via RS Mobile | |
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01-13-2011, 05:33 PM
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#45 | | I answer every Emotion with an emoticon
Join Date: Apr 2005 Location: Vancouver
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I don't understand the emphasis on services at all. It adds no value to the goods u r purchasing. If I want a box of cookies, I want to pay for a box of cookies, not a box of cookies plus 20 cents for service. The extra 20 cents doesn't make ur cookie taste better. Posted via RS Mobile | |
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01-13-2011, 05:39 PM
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#46 | | Rs has made me the man i am today!
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target is the shit. no more driving to bellis fair.....unless the prices suck ass, in which case i will still be driving to bellis fair.
__________________ my buy/sell ratings Quote: Originally posted by Marco911
Must be funny when he sees his psychiatrist for treatment of his delusions of grandeur.
Hyde: "See my black Ferrari parked in the handicapped spot outside your office"
Doctor: "Where? All I see is a Yaris."
Hyde: "It's a Ferrari dammit! LoL! Yaris!?"
Doctor: " I'd appreciate if you didn't park in the handicap spots."
Hyde: "LOL! The ticket is only like $500 bucks. In fact, my dad's factory makes the handicapped street signs. If you look closely at vegetable in the wheelchair, it's really a picture of me when I was born."
Doctor: "Here, come a little closer you won't feel this at all."<Injects 20cc of Haloperidol>
Hyde: "I feel woozy...hey, what did you do to my Ferrari? That's a real piece of shit parked in my spot."
Doctor: "Welcome to reality." | | |
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01-13-2011, 05:56 PM
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#47 | | bye bye REVscene
Join Date: May 2005 Location: `
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hopefully they dont have long lineups at the cashier like zellers (not to mention rude cashiers most of the time)
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01-13-2011, 06:28 PM
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#48 | | The RS Freebie guru
Join Date: Jul 2001 Location: East Vancouver
Posts: 22,032
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Originally Posted by TOS'd Yay, maybe now I don't have to drive to the states to pick up these | Unfortunately, highly unlikely to be the case... all the food and drinks are going to be from local distributors... just like how there aren't really any special items available at Wal-Mart.
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01-13-2011, 06:49 PM
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#49 | | NOOB, Not Quite a Regular!
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Yeah, I have no idea how Zellers has managed to stay afloat over the years - quite the dump of a chain, imo
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01-13-2011, 08:00 PM
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#50 | | Banned By Establishment
Join Date: Dec 2003 Location: New West
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Originally Posted by Makariri Yeah, I have no idea how Zellers has managed to stay afloat over the years - quite the dump of a chain, imo | My uneducated guess...
As seen above, their one saving grace was the leases on the stores. I would imagine that concessions were made to make the stores more profitable. If Zellers died, you now have huge holes in malls all across Canada.
They closed the Zellers in New West, and dollarama took part, and some other store. It took years to get that. Not that Royal City Centre was anything exciting with Zellers, but it certainly isn't anything now that they aren't there. Thank god for old people that don't travel. Replicate that experience across Canada, and Rio-can would be hurting.
If I were an executive, I would probably put together a "shit or get off the pot" deal. You have 5 years to be able to pay an increased rental rate across the board, or sell out to someone who can.
Or I could completely be full of shit, as I know nothing of commercial real estate.
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