Target, Inc.

Conventional wisdom seems to be that Target will be as successful in Canada as it has been in the United States, following last week’s bombshell announcement that the company would enter the market via an acquisition. Target said it would acquire leasehold interests in 220 Zellers stores from the Hudson’s Bay Company, and during 2013 and 2014 it would open between 100 and 150 of the locations as Target stores.

Between announcing its first international acquisition and disclosing details of its U.S. expansion program, the Target board found time to squeeze in authorization of a quarterly dividend payment. The company’s dividend is currently 25 cents a share and is payable on March 10 to shareholders of record on Feb. 16. The first quarter dividend will be the company’s 174th consecutive dividend paid since October 1967 when the company became publicly held.

MINNEAPOLIS  —Target announced that its chief marketing officer, Michael Francis, will serve as the executive committee sponsor of Target’s entrance into the Canadian market.  In this role, Francis will oversee the extension of Target’s brand as part of the corporation’s first-ever expansion of its stores beyond the United States, the company reported. 

West Pottsgrove, Pa. -- Plymouth Meeting, Pa.-based Fameco Real Estate, L.P. said that  Carmike Cinemas has signed a lease for an approximately 46,000-sq.-ft. state-of-the-art multi-screen movie theater to be located in the  Upland Square Shopping Center, in West Pottsgrove, Pa.

Minneapolis -- Just days after announcing 2011 U.S. expansion plans, Target announced an acquisition in Canada that will enable it to open between 100 and 150 stores during the next four years. The company announce that it has agreed to pay C$1.825 billion to purchase from Zellers Inc., a subsidiary of the Hudson's Bay Co., the leasehold interests in up to 220 sites currently operated by Zellers. This transaction will allow Target to open its first Target stores in Canada beginning in 2013.

Walmart Canada has a few years to get ready for the arrival of Target following yesterday’s major announcement that its arch rival would be heading north of the border via an acquisition. That is the same strategy Walmart employed all the way back in 1994 when it bought 122 former Woolco stores. Walmart now operates 323 stores in Canada, and by the time Target gets around to opening its first units in 2013 that figure will probably be closer to 400.

MINNEAPOLIS - Just days after announcing 2011 U.S. expansion plans, Target announced an acquisition in Canada that will enable it to open between 100 and 150 stores during the next four years. The company announced that it has agreed to pay C$1.825 billion to purchase from Zellers Inc., a subsidiary of the Hudson's Bay Company, the leasehold interests in up to 220 sites currently operated by Zellers Inc. This transaction will allow Target to open its first Target stores in Canada beginning in 2013. 

Minneapolis -- Target is opening 21 stores across 12 states, the retailer announced Tuesday.

Among the openings include five stores in California, a third store in Hawaii and a SuperTarget in Minnesota.

“Target takes great pride in designing stores that meet the needs of our guests and the communities we serve,” said John Griffith, Target executive VP. “With the addition of an expanded fresh food assortment, our new stores will offer guests everything they need in one convenient location.”