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Lowe's Canada expanding into Target stores

Lowe's storefront BBQ 725 x 500

Lowe’s Canada is growing its presence, and part of that process includes moving into former Target buildings.

The first location in an old Target Canada store is slated to open in late summer on Vancouver Island, says Lowe’s Canada spokeswoman Sandy Indig in a recent Times Colonist news report.

Lowe’s was granted a building permit last week for a 100,000-square-foot store in a shopping center on the island. The new location is expected to create 125 permanent jobs.

About a year ago, Lowe’s announced that it would move into 13 Target buildings and buy a Target distribution center in Toronto as part of a $151 million deal after Target closed all of its Canadian stores.

The Vancouver Island location in the former Target store is in addition to the 40 stores Lowe’s has opened since the company began operating in Canada in 2007.

The more extensive part of the Lowe’s Canada expansion, a proposed $2.3 billion purchase of rival RONA, Inc., still requires additional regulatory approvals, but RONA shareholders have voted in favor of the deal.

Source : Hardware Retailing

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13 May 2016

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