Target to transfer leasehold interests on select sites in Canada to Wal-Mart
Minneapolis — Target on Friday announced that Target Canada has reached an agreement to transfer to Walmart Canada the leasehold interests in up to 39 sites, currently operated by Zellers.
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.
Macy’s now shipping around the world
NEW YORK —Macy’s announced that it will offer international shipping onits e-commerce site, Macys.com, to 91 countries in Africa, Asia,Australia, the Caribbean, Europe, the Middle East, North and SouthAmerica.
FiftyOne, a provider ofinternationale-commerce services and infrastructure to U.S. retailers, has partnered with Macy’s to implement the shipping process.
"International shipping will enable Macy’s to build upon its existingcustomer base beyond the United States by exposing our product offeringsabroad," said Kent Anderson, president of Macys.com. "In 2010, non-U.S.-based shoppers accounted for 36 million visits to macys.com; theprospect of satisfying the demands of this consumer is an excitingbusiness opportunity for us. It also provides Macy’s with a globalplatform on which to build our reputation as a source for great fashionand value."
International customersin participating countries will automatically be transitioned to theirlocal currency as they browse the assortment. Once customers arefinished selecting items for purchase, the system will automaticallyprovide the final price for the merchandise including allshipping-related costs.
J. Crew slated to open debut Canada store in August
Toronto — J. Crew announced Friday it will open its first Canadian store in August at the Yorkdale Shopping Centre, located in Toronto.
The approximately 5000-sq.-ft. store, which will offer women’s-only clothing and accessories, marks J. Crew’s international debut, joining recent market entries by retailers such as Target and Big Lots in leveraging Canada’s relatively strong economy.
J. Crew was taken private in early March in a $3 billion acquisition by a group of investors including private-equity firms TPG Capital — a former owner of J. Crew — and Leonard Green & Partners LP.