Target Corp. continued its push into Canada on Tuesday, opening 14 stores in Quebec, Ontario and Nova Scotia. Another nine stores will open in Quebec on Oct. 18.
Since March, Target has opened 82 outlets in Canada, including the stores that made their debut on Tuesday. By year's end, the No. 2 retailer in the U.S. plans to have 124 Canadian stores that will employ about 20,000 people. Target has 1,788 stores in the United States.
Target's move into Canada is its first entry into a foreign market, and the company expects to generate $6 billion in revenue in Canada during the next six years. So far, sales of some products have been slower than expected, particularly seasonal and non-discretionary items such as food and health care.
Most analysts, however, say the company will overcome such headwinds, and the move into Canada will lead to greater growth.
