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Old 01-13-2011, 12:22 PM   #26
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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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Old 01-13-2011, 12:22 PM   #27
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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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Old 01-13-2011, 12:34 PM   #28
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zellers fucking sucks.

such a crappy place to buy things, good riddance.
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Old 01-13-2011, 12:41 PM   #29
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whatever zellers and target have similar theme colors anyways, the transition will be quick :P
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Old 01-13-2011, 12:48 PM   #30
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targets cinnamon pretzels!! omnomnomnom
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Old 01-13-2011, 12:48 PM   #31
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I love Tarjay!
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Old 01-13-2011, 12:51 PM   #32
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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...
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Old 01-13-2011, 01:12 PM   #33
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^ 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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Old 01-13-2011, 02:28 PM   #34
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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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Old 01-13-2011, 02:33 PM   #35
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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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Old 01-13-2011, 02:39 PM   #36
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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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Old 01-13-2011, 03:01 PM   #37
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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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Old 01-13-2011, 03:05 PM   #38
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aww i like zellers, i buy my clothings there
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Old 01-13-2011, 03:33 PM   #39
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Didn't think Target was anything special. Been to the one in bellingham a few times
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Old 01-13-2011, 03:55 PM   #40
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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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Old 01-13-2011, 04:10 PM   #41
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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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Old 01-13-2011, 04:31 PM   #42
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I love the "Archer's Farm" brand food items offered by Target.
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Old 01-13-2011, 05:19 PM   #43
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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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Old 01-13-2011, 05:51 PM   #44
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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
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Old 01-13-2011, 06:33 PM   #45
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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.
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Old 01-13-2011, 06:39 PM   #46
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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.
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Old 01-13-2011, 06:56 PM   #47
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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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Old 01-13-2011, 07:28 PM   #48
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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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Old 01-13-2011, 07:49 PM   #49
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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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Old 01-13-2011, 09:00 PM   #50
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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
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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