Kamloops not on Target — yet
It appears the Tournament Capital will have to wait to see if it will be in the crosshairs of a major U.S. big-box retailer.
On Thursday, May 26, Target announced the first of 105 stores in Canada it plans to take over from Zellers.
Kamloops did not make the list.
However, residents won’t have to drive too far as Vernon will get a Target.
Various media reports have noted the president of the company suggesting the list is just the first wave of stores. In January, it was announced American retailer Target had purchased up to 220 Zellers leases across the country.
Zellers is one of the main anchors at Sahali Centre mall, along with Safeway.
Calls to mall management were not returned as of KTW press deadline.
Hudson’s Bay Company (HBC), the parent company of Zellers, sold its leases to the Target Corporation for $1.8 billion.
However, under the agreement, Target doesn’t actually have to take control of all 220 leases.
It is expected between 120 and 150 Target stores will open across the country by 2013 or 2014.
In April, Sahali Mall manager Marg Archibald told KTW mall officials were in talks with Target, which indicated some interest by the U.S retailer, but nothing had been confirmed as to its plans for the local Zellers store.
Freda Colbourne, a spokesperson with the HBC, told KTW in January the remaining stores will continue to be operated as Zellers, while others could be sold to competing retailers interested in purchasing the leases.
“It just depends on the community. It just depends on the area,” she said.