 |
|
| Metroplex79 |
05-06-2015 04:43 PM |
Canadian Tire to buy 12 Target property leases in Canada
ARTICLE: Canadian Tire to buy 12 Target property leases in Canada
Quote:
Retailer Canadian Tire Corp Ltd (CTCa.TO) said it would buy leases for 12 properties previously held by the Canadian unit of Target Corp (TGT.N) for $17.7 million.
The 12 locations, spread across the country, will add about 400,000 square feet of retail space to Canadian Tire Retail's store network, the company said on Wednesday.
Apart from its namesake automotive and homeware stores, Canadian Tire also operates Mark's, a casual and industrial wear retailer, and FGL Sports, whose store brands include Sport Chek, Hockey Experts and Sports Experts.
"We've been tracking certain Target properties for some time and when the opportunity came up, we moved quickly and secured virtually all of them," Canadian Tire CEO Michael Medline said in a statement.
U.S. discount retailer Target, granted creditor protection for its money-losing Canadian subsidiary, in April closed the last of its 133 retail stores in Canada.
Canadian retailers Metro Inc (MRU.TO) and Hudson's Bay Co (HBC.TO) have also shown interest in leasing Target's properties.
Canadian Tire did not specify if the deal value was in U.S. or Canadian dollars.
Toronto-based Canadian Tire's shares were down 1.1 percent at C$126.55 on the Toronto Stock Exchange.
|
Well, 12 down and 121 to go.
Toy-wise for us collectors this means nothing. Hopefully you "car guys" are happy.
Metro and Hudson Bay doesn't me get excited.
Curious if you would prefer more Wal-Marts or TRUs to pick up a few more locations?
Or would the malls be smarter if they broke up that space more smaller stores to occupy?
======================================
UPDATE
NEWER ARTICLE: Canadian Tire to buy 12 formerTarget locations to fill out store network
Quote:
TORONTO - Canadian Tire Corp. says it has a deal to buy 12 real estate leases through the court-supervised windup of Target Canada.
Canadian Tire (TSX:CTC-A.TO - News) says it will pay $17.7 million for the leases once the deal is approved.
The stores are in five provinces in a variety of small and large communities.
Four of the locations are in British Columbia in Courtney, Cranbrook, Vernon and Victoria.
Three are in Quebec, with two in Montreal and one in Rimouski.
Two are in Ontario (Aurora and Sudbury) while the other three are in Halifax, Moncton, N.B., and Winnipeg.
Canadian Tire chief executive Michael Medline says the purchase will allow the company to accelerate its growth, improve its retail network and provide its customers with more convenient locations and larger stores.
|
|
| JLvatron |
05-06-2015 05:34 PM |
Re: Canadian Tire to buy 12 Target property leases in Canada
Quote:
Originally Posted by Metroplex79
(Post 638410)
Toy-wise for us collectors this means nothing.
|
Au contraire, there may be some toy sightings, come Christmas! :canada: |
| Robimus |
05-06-2015 05:36 PM |
Re: Canadian Tire to buy 12 Target property leases in Canada
Yes, Canadian Tire does sells toys seasonally.
I doubt this will mean much in my area as we already have Canadian Tire stores within a stones throw of the former Target locations.
|
| Metroplex79 |
05-06-2015 06:02 PM |
Re: Canadian Tire to buy 12 Target property leases in Canada
Quote:
Originally Posted by JLvatron
(Post 638422)
Au contraire, there may be some toy sightings, come Christmas! :canada:
|
Quote:
Originally Posted by Robimus
(Post 638423)
Yes, Canadian Tire does sells toys seasonally.
I doubt this will mean much in my area as we already have Canadian Tire stores within a stones throw of the former Target locations.
|
Well yes...Christmas, but it doesn't help the rest of the year like a Target would have.
Let's see, in the past 10 years, I can only remember buying ONE Mini-Con multi pack (can't remember if it was the 10 or 12 pack), and TWO of those DotM "value-packs" that had 3 figures wrapped together (mostly because I had one of those scratch promos to knock off a few extra dollars).
I guess I should have re-phrased my statement to be:
"Transformers-wise for us collectors this means nothing".
I'm sure some of you bought the other various toys like Nerf, Hot Wheels, Star Wars, etc. |
| Valfar |
05-06-2015 10:33 PM |
Re: Canadian Tire to buy 12 Target property leases in Canada
Long gone are the days of walking into Canadian Tire in 1987 with my folks during the holiday season to find a large metal basket display full of discounted Go-Bots and I got to pick out like maybe 12 of them, still have dreams about it to this day.
|
| Team Jetfire |
05-07-2015 12:17 AM |
Re: Canadian Tire to buy 12 Target property leases in Canada
Quote:
Originally Posted by Robimus
(Post 638423)
Yes, Canadian Tire does sells toys seasonally.
I doubt this will mean much in my area as we already have Canadian Tire stores within a stones throw of the former Target locations.
|
Calgary is similar too.
Does anyone actually shop at crappy tire? |
| Metroplex79 |
05-07-2015 11:33 AM |
Re: Canadian Tire to buy 12 Target property leases in Canada
|
| Dragon Knight |
05-07-2015 12:44 PM |
Re: Canadian Tire to buy 12 Target property leases in Canada
Quote:
Originally Posted by Team Jetfire
(Post 638480)
Calgary is similar too.
Does anyone actually shop at crappy tire?
|
My family got a tred mill there last year for like around 500 bucks
We also bought an elliptical trainer for 100 |
| JLvatron |
05-07-2015 01:30 PM |
Re: Canadian Tire to buy 12 Target property leases in Canada
Quote:
Originally Posted by Valfar
(Post 638472)
Long gone are the days of walking into Canadian Tire in 1987 with my folks during the holiday season to find a large metal basket display full of discounted Go-Bots and I got to pick out like maybe 12 of them, still have dreams about it to this day.
|
Dude, did that actually happen?!
If yes, you are a Hero!
The Duke of Luck! :) |
| Tekkamanraiden |
05-10-2015 07:03 AM |
Re: Canadian Tire to buy 12 Target property leases in Canada
Quote:
Originally Posted by Team Jetfire
(Post 638480)
Calgary is similar too.
Does anyone actually shop at crappy tire?
|
All the time. |
| All times are GMT -4. The time now is 10:28 PM. |
|
Powered by vBulletin® Copyright ©2000 - 2024, Jelsoft Enterprises Ltd.
|
|
Donate to Cybertron.ca |
Donations keep this site running, thanks for your support. More details here.
|
|
