Target's U.S. executives say they are blown away with consumer response to the opening of the chain's first 24 stores in Canada and expect the foray will be profitable next year.
Chief financial officer John Mulligan told CIBC's retail conference on Thursday that reaction has been like Black Friday and Boxing Day, two key shopping days that traditionally drive high spending.
"It's like having that every single day, all day long, so it's been quite remarkable the response," Mulligan said of the openings in the Toronto area.
Target has been criticized during its unofficial "soft openings" for running out of some products in the frenzy to keep up with demand. Milk has been a big seller, which Mulligan said is a very important sign because groceries drive how frequently shoppers visit stores and encourage important midweek purchases.
To read the rest of the story, please go to: The Canadian Press
