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Target under creditor protection (in Canada)
01-15-2015, 11:39 AM
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#1
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jul 2006
Posts: 11,401
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Target under creditor protection (in Canada)
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01-15-2015, 11:44 AM
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#2
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Administrator
Join Date: Jan 2008
Location: Chicagoland
Posts: 40,586
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Ouch.
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01-15-2015, 12:07 PM
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#3
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Moderator Emeritus
Join Date: Feb 2005
Location: San Diego
Posts: 5,267
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I'm shocked, really. I heard it was having trouble, but reading your second article I'm surprised they had such terrible management. I love Target, I've bought so much clothes there, picture frames, small appliances, bath products etc. Wide aisles, always able to take a moment to compare products....I mean compared to Target, WalMart is fighting for a spot on the last helicopter out of Saigon.
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01-15-2015, 12:18 PM
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#4
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: May 2008
Posts: 5,178
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It sounds like they did everything wrong. All they needed (and should have done) was some research before hand to position themselves correctly, IMHO. Too bad.
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01-15-2015, 12:57 PM
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#5
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jul 2006
Posts: 11,401
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This will make a great case study for business schools.
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01-15-2015, 01:08 PM
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#6
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jul 2006
Posts: 11,401
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Quote:
Originally Posted by laurence
I'm shocked, really. I heard it was having trouble, but reading your second article I'm surprised they had such terrible management. I love Target, I've bought so much clothes there, picture frames, small appliances, bath products etc. Wide aisles, always able to take a moment to compare products....I mean compared to Target, WalMart is fighting for a spot on the last helicopter out of Saigon.
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I think Canadians' experience was the opposite, Laurence.
As a fervent LBYMer, I shop as little as possible and rarely venture into big box stores. I can usually research everything I need to know about a product online, and sometimes purchase it that way. My local Walmart Superstore and Canadian Tire are well stocked. There is one Target store in my area and it is across town. I visited it once and found it low on inventory and mediocre on prices. They didn't have whatever it was that I was shopping for, and the website was useless, so I saw no reason to waste gas traveling there. Obviously I was not alone.
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01-15-2015, 01:15 PM
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#7
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Moderator Emeritus
Join Date: Feb 2005
Location: San Diego
Posts: 5,267
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I hear you, I'm just scratching my head that Target said, "Yeah, that thing we do in the U.S. that works so well? Let's do the opposite in Canada." I see the excuses from Target for the failure but these all sound like things they should have had worked out well before launch.
On another note, glad your Walmarts are better than ours. My town (suburb of San Diego) has one and it's wrecked that neighborhood. Traffic congestion, trash and diapers in the parking lot. Definitely low prices. We have basic commodities we buy there but I have to screw up my courage before going there.
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01-15-2015, 01:28 PM
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#8
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Thinks s/he gets paid by the post
Join Date: Mar 2009
Location: Pittsburgh, PA suburbs
Posts: 1,796
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It is a real shame about the job losses in Canada.
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01-15-2015, 01:56 PM
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#9
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Thinks s/he gets paid by the post
Join Date: Jul 2005
Posts: 2,223
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With Canada being an oil exporter , falling oil prices may have been the other shoe dropping.
__________________
" A person is smart, but People are dumb, dangerous, panicky animals, and you know it " Agent "K", Men in Black
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01-15-2015, 02:11 PM
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#10
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jul 2006
Posts: 11,401
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Quote:
Originally Posted by Lakewood90712
With Canada being an oil exporter , falling oil prices may have been the other shoe dropping.
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Not sure that was a key factor, except in so far as it will make the retail environment tougher than it already is. The economic effects of dropping oil prices are only beginning to roll out now, but they will affect all retailers. More relevant is the rise in the US $ versus the Canadian $, which would have reduced Target's US $ revenues independent of sales.
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01-22-2015, 04:39 AM
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#11
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jul 2006
Posts: 11,401
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04-12-2015, 07:48 PM
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#12
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jul 2006
Posts: 11,401
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04-13-2015, 09:20 PM
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#13
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Recycles dryer sheets
Join Date: Aug 2014
Location: Western Canada
Posts: 393
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Ya, but don't slam it. Next time show up with a rational business plan.
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