Target Corp. (TGT) is preparing to enter Canada, with as many as 200 stores said to be considered as the company's makes its first move beyond U.S. borders.
The discount retailer gave its loudest signal yet that it is headed north when its representatives spent the last few days meeting with Canadian developers at a shopping center trade show in Toronto.
Target is looking at a couple of hundred stores over the next 10 years, Fred Waks, chief operating officer with RioCan, the largest public real estate developer in Canada, told the Winnipeg Free Press. Waks could not be reached for comment, but RioCan Chief Financial Officer Rags Davloor confirmed the number.
Davloor also confirmed that Target is looking to open six to 10 stores in late 2014 or 2015. "We're talking about possible locations where we can accommodate them," he said.
Target earlier this year expressed interest in moving into Canada. On Wednesday, company spokeswoman Amy Reilly said only that the retailer is "optimistic that our first stores could open by mid-decade."
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