Crowds flock to Canadian Target stores for retailer's first Boxing Day

Buzz seems to build around retailer's new Canadian division despite lower-than-expected Q3 results

MISSISSAUGA, Ontario — Despite concerns about the performance of its new Canadian division expressed in the wake of its third-quarter earnings last month, Target said it received quite a lot of shoppers on Boxing Day.

Boxing Day, the day after Christmas, has traditionally been a major shopping day in Canada, similar to Black Friday in the United States, which has also migrated northward in recent years as retailers seek to keep Canadians shopping domestically. Target's stores opened at 6 a.m., and several stores reported lineups before the doors opened, including in cold and snowy weather.

"We have seen tremendous excitement at our stores across the country as guests tap into the incredible deals and innovative products found only at Target," Target Canada president Tony Fisher said. "Celebrating our first Boxing Day with our guests has been an amazing experience, and we look forward to offering Bullseye Boxing Week prices all week long."

In discussing Target's third-quarter earnings last month, CEO Gregg Steinhafel said that despite results from the Canadian division coming out lower than the company had hoped, he expected better results in 2014, and those stores that had opened early on were already tracking ahead of the newer ones.

Login or Register to post a comment.