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It's Okay, But No Canadian Tire
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Dead: Target Canada, closing all its stores after less than two years. Some people thought Target would be a slam dunk and provide Walmart with stiff competition in Canada, but the once-golden retailer made some elementary blunders -- they didn't understand the market, they didn't bring in anyone from outside who DID know the market, they miscalculated on supply costs and how that might translate into higher retail prices, they underestimated the local appeal of the Zellers brand it replaced ("it may be a lousy store, but it's OUR lousy store") -- that Walmart didn't make, and that's why Walmart is now Canada's top retailer and Target's heading back to Minneapolis with its tail between its legs. (Toronto Star)
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