On Target in Kamloops
Call it a bull’s-eye for the Tournament Capital as a major U.S. retailer has announced plans to set up shop in town.
After much speculation, Target is planning to take over operation of the Zellers space in Sahali Mall by March 2013.
The news was greeted by cheers from mall manager Marg Archibald, who not only sees the change as a positive for the shopping centre, but for the city itself.
“This is going to be a huge draw,” she said.
There are few specific details on what Target intends to do with the space occupied by Zellers.
It’s also unclear what will happen to the department store’s current employees.
Archibald noted the 115,000 square-foot space is similar in size to other Target stores.
“We have no reason to think they’d be changing that,” she said, adding more details on the transition will likely unfold in the coming weeks and months.
Hudson’s Bay Company (HBC), the parent company of Zellers, sold its leases to the Target Corporation for $1.8 billion earlier this year.
However, under the agreement, Target doesn’t actually have to take control of all 220 leases and can take as many as it wants.
It is expected between 120 and 150 Target stores will open across the country by 2013 or 2014.
According to its website, Target, which is known as a discount retailer, has 1,750 stores in the U.S., along with 24 SuperTarget stores that include grocery products.