Target and Wal-Mart to hire thousands of workers in Canada
Posted July 3, 2012 5:52 pm.
This article is more than 5 years old.
The Canadian retail sector is bracing for a seismic shift.
Retail chains like Sears and Canadian Tire are gearing up for war with Target Corp. and Wal-Mart stores announcing plans to hire tens-of-thousands of workers in Canada over the next two years.
Target, the second-largest discount retailer in the United States, will hire as many as 27,000 people in Canada next year for its grand opening.
U.S. retailers are heading north to take advantage of an expanding economy and falling jobless rate.
Canadian employment has grown 3 per cent since 2008 while U.S. employment shrunk 3.6 per cent.
Kathleen Wong, an equities analyst at Veritas Investment Research told The Toronto Star, Target will “steal” a total of C$855-million in sales from Canadian Tire, and C$397-million in sales from Sears Canada.
