Toronto — Lowe’s Canada has reached agreement to acquire the leases of 13 former Target Canada locations and to purchase Target’s Milton, Ontario, distribution center for approximately C$151 million. This acquisition came as part of a real estate auction following Target’s decision to cease operations in Canada.
Canada
Minneapolis — Target Corporation plans to abandon its expansion into Canada less than 2 years after launch. The company is shutting all of its 133 Canadian stores and expects to report about $5.4 billion in pre-tax losses for its fourth quarter, which finishes at the end of January.