Target lists Canadian stores opening 2013

Thu Jul 12, 2012 10:48am EDT
 
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(Reuters) - Target Corp (TGT.N: Quote) has released a full list of locations for its first 125 Canadian stores, slated to open in 2013, and said later this year it would announce where it is opening additional outlets in 2014 and beyond.

The Minneapolis-based discount retailer said on Thursday it would start opening its first stores outside the United States next March or April. Around that time, it expects to open the doors to 24 Ontario locations, after spending more than $10 million on each.

Also in the spring of 2013, Target plans to open 10 stores in British Columbia, 11 in Alberta and three in Manitoba. Another 20 openings are planned across the Canada that summer. In the fall, Target's first 18 Quebec stores are expected to open. The remaining stores are slated to open in fall and winter 2013.

Target announced its deal to take over up to 220 leases from the Hudson's Bay Co's discount banner Zellers in January 2011.

The company later said it would open 125 to 135 Canadian stores starting in 2013. Extra leases are being sold on to other companies, including rival Wal-Mart Stores Inc (WMT.N: Quote), or returned to landlords.

Target's Canadian entry is expected to shake up the retail landscape, and Wal-Mart is in the midst of an ambitious expansion ahead of its competitor's arrival.

(Reporting By Allison Martell; Editing by Janet Guttsman)