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Target helps Walmart strengthen Canadian hand
Walmart doesn’t need a lot of help when it comes to growth, which is why last week’s announcement by Target to sell its larger rival 39 sites in Canada was a surprise. Walmart is on track to end this year with 333 stores, and on Friday Target said it had reached an agreement to transfer to Walmart Canada the rights for leasehold interests in up to 39 sites currently operated by Zellers. The sites are among the up to 220 possible sites whose leasehold interests Target is acquiring as part of a real estate transaction announced in January.
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Target to transfer leasehold interests on select sites in Canada to Wal-Mart
Minneapolis -- Target on Friday announced that Target Canada has reached an agreement to transfer to Walmart Canada the leasehold interests in up to 39 sites, currently operated by Zellers.
Specific locations will be identified later this fall. Terms of this transaction were not disclosed.
