MINNEAPOLIS, June 24, 2011 /CNW/ - Target announced today that Target
Canada has reached an agreement to transfer to Walmart Canada the
rights for leasehold interests in up to 39 sites, currently operated by
Zellers Inc. Specific locations will be identified later this fall.
Terms of this transaction were not disclosed.
The sites are among the up to 220 possible sites whose leasehold
interests Target is acquiring as part of a real estate transaction
announced in January. In May, Target selected its initial group of 105
sites, the vast majority of which will become Target stores. Target
plans to announce the selection of a second group of sites this fall
and expects to open 100 to 150 Target stores throughout Canada
beginning in 2013.
Minneapolis-based Target Corporation (NYSE: TGT) serves guests at 1,755
stores in 49 states nationwide and at Target.com. In addition, the
company operates a credit card segment that offers branded proprietary
credit card products. Since 1946, Target has given 5 percent of its
income through community grants and programs; today, that giving equals
more than $3 million a week. For more information about Target's
commitment to corporate responsibility, visit Target.com/hereforgood.
For more information, visit Target.com/Pressroom.
SOURCE Target Corporation
For further information:
Amy Reilly, Target Communications, (612) 761-6782
John Hulbert, Investor Communications (612) 761-6627
Target Media Hotline, (612) 696-3400