Target Announces First Wave of New Stores
Target has announced its first wave of stores from its Canadian expansion in early 2013. 105 stores total across Canada, most locations have been purchased from Zellers.
This paired with the opening of its Canadian headquarters in Missisauga, Ontario, is a big announcement from the corporation.
The list of locations includes stores in all provinces. This should provide ample job opportunities to Canadians. Locations announced include 45 stores in Ontario, 19 in Quebec, 15 in British Columbia, 13 in Alberta, five in Manitoba, two in Saskatchwan, two in Nova Scotia, two in Newfoundland and Labrador, one in New Brunswick and one in Prince Edward Island.
“This is just the first wave,” said Target Canada President Tony Fisher at a media presentation Thursday. "We plan to hire tens of thousands of Canadians," Fischer continued.
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A discount department store chain that sells clothing, shoes, jewellery, health and beauty products, kitchen supplies, electronics, automotive and hardware supplies among other things.
Target has said it will announce its second wave of store openings sometime in September.
The stores acquired from Zellers came from a purchase of leasehold rights to 220 Zeller store locations announced in January. Target paid $1.85 billion in the transaction.
Here’s the list of announced Target locations, provided by the Financial Post:
• Chinook Centre, Calgary
• Forest Lawn Shopping Centre, Calgary
• Market Mall, Calgary
• Shoppes at Shawnessy, Calgary
• Signal Hill Centre, Calgary
• Sunridge Mall, Calgary
• Bonnie Doon, Edmonton
• Kingsway Garden Mall, Edmonton
• Mill Woods Town Centre, Edmonton
• Prairie Mall, Grande Prairie
• Bower Place, Red Deer
• St. Albert Centre, St. Albert
• Sherwood Park Mall, Sherwood Park
• Abbotsford Power Centre, Abbotsford
• Metropolis at Metrotown, Burnaby
• Discovery Harbour Shopping Centre, Campbell River
• Cottonwood Mall, Chilliwack
• Coquitlam Centre, Coquitlam
• Driftwood Mall, Courtenay
• Tamarack Mall, Cranbrook
• Scottsdale Mall, Delta
• Willowbrook Shopping Centre, Langley
• Haney Place Mall, Maple Ridge
• Nanaimo North Town Centre, Nanaimo
• Pine Centre, Prince George
• Oakridge Shopping Centre, Vancouver
• Village Green Mall, Vernon
• Tillicum Mall, Victoria
• Shoppers Mall, Brandon
• Grant Park, Winnipeg
• Kildonan Place Shopping Centre, Winnipeg
• Polo Park Shopping Centre, Winnipeg
• Southdale Centre, Winnipeg
• McAllister Place, Saint John
Newfoundland and Labrador
• Corner Brook, Corner Brook
• Cabot Square, St. John,s
• Bedford Place, Bedford
• Mic Mac Mall, Dartmouth
• Durham Centre, Ajax
• Aurora Shopping Centre, Aurora
• Bramalea City Centre, Brampton
• Shoppers World Brampton, Brampton
• Trinity Common, Brampton
• Burlington Mall, Burlington
• Millcroft Centre, Burlington
• Cambridge Centre, Cambridge
• Woodbine Centre, Etobicoke
• Gates of Fergus, Fergus
• 175 Stone Road W., Guelph
• Centre Mall, Hamilton
• South Hamilton Square, Hamilton
• Hazeldean Mall, Kanata
• Cataraqui Town Centre, Kingston
• Lindsay Square Mall, Lindsay
• Masonville Place, London
• Westmount Shopping Centre, London
• Milton Mall Shopping Centre, Milton
• Erin Mills Town Centre, Mississauga
• Square One, Mississauga
• Meadowlands Shopping Centre, Nepean
• Upper Canada Mall, Newmarket
• 1899 Algonquin Ave., North Bay
• Centerpoint Mall, North York
• Orillia Square Mall, Orillia
• Place D,Orleans, Orleans
• Five Points Mall, Oshawa
• Bayshore Shopping Centre, Ottawa
• Billings Bridge Plaza, Ottawa
• RioCan St. Laurent, Ottawa
• Hillcrest Mall, Richmond Hill
• Bridlewood Mall, Scarborough
• County Fair Mall, Smiths Falls
• Niagara Pen Centre, St. Catharines
• Stratford Mall, Stratford
• Sudbury Supermall, Sudbury
• Intercity Shopping Centre, Thunder Bay
• Cloverdale Mall, Toronto
• Shoppers World Danforth, Toronto
• East York Town Centre, Toronto
• Flamborough Power Centre, Waterdown
• Conestoga Mall, Waterloo
• Taunton Gardens Power Centre, Whitby
• Devonshire Mall, Windsor
Prince Edward Island
• Charlottetown Mall, Charlottetown
• Galeries d,Anjou, Anjou
• Faubourg Boisbriand, Boisbriand
• Carrefour Angrignon, Lasalle
• Mega Centre Notre-Dame, Laval
• Galeries Chagnon , Levis
• Place Longueuil, Longueuil
• Place Alexis Nihon, Montreal
• Place Vertu, Montreal
• Terrarium Shopping Centre, Pointe Claire
• Les Galeries De La Capitale, Quebec City
• Place Fleur De Lys, Quebec City
• Place Laurier, Quebec
• Le Carrefour Rimouski, Rimouski
• Promenades Saint-Bruno, Saint-Bruno-de-Montarville
• Carrefour Saint-Georges, Saint-Georges
• Carrefour Richelieu, Saint- Jean sur-Richelieu
• Carrefour du Nord, Saint Jerome
• Carrefour de L,Estrie, Sherbrooke
• Les Rivieres Shopping Centre, Trois Rivieres
• Northgate Mall, Regina
• The Centre, Saskatoon
Six issues at the top of tax and finance leaders’ agenda
New Deloitte research reveals that tax leaders are under increasing pressure to add strategic value as companies accelerate business model transformation, from undergoing digital transformations to rethinking their supply chains or investing in green initiatives.
According to Phil Mills, Deloitte Global Tax & Legal Leader, to “truly deliver value to the business, the tax function needs to rethink its resourcing model and transform its technology infrastructure to create capacity and control costs”.
And the good news, according to Mills, is that tax and business leaders have more options at their disposal to achieve this.
Reflecting the insights of global tax and finance executives at global companies, Deloitte’s Tax Operations in Focus study reveals the six issues at the top of tax and finance leaders’ agenda.
Trend 1: Businesses seek more strategic counsel from tax
Companies are being pushed to develop new digital products and distribution channels and accelerate sustainable transformation and this is taking them into uncharted tax territory. Tax leaders say their teams must have the resources and skills to give deeper advisory support on digital business models (65%), supply chain restructuring (49%) and sustainability (48%) over the next two years. This means redrawing the boundaries of what tax professionals focus on, and accelerating adoption of advanced technologies and lower-cost resourcing models to meet compliance requirements and free up time.
According to Joanne Walker, Group Tax Director, BT Group PLC, "There’s still a heavy compliance load today, but the vision for the future would be that much of that falls away, and tax people become subject matter experts who help program the machine, ensure quality control, and redirect their time to advisory activity.”
Trend 2: Tipping point for resourcing models
Business partnering demands in the tax department are on the rise, but 93% of tax leaders say their department’s budget is remaining flat or falling. To ensure that the tax function can redefine itself as a strategic function at the pace that is required, leaders are choosing to move increasing amounts of compliance and reporting to a combination of shared service centers, finance departments, and outsourcing providers that have invested in best-in-class technology.
Trend 3: Digital tax administration is moving faster than expected
in addition to the rising focus of the corporate tax department partnering with their business counterparts, transformative changes to the way companies share tax information with revenue authorities is also creating an imperative to modernize operations at a faster pace. Nine in 10 (92%) respondents say that shifting revenue authority demands on digital tax administration will have a moderate or high impact on tax operations and resources over the next five years—and several heads of tax said the trend is moving faster than expected.
"It’s really stepped up in the last couple of years," says Anna Elphick, VP Tax, Unilever. "Tax authorities don't just want a faster turnaround for compliance but access into a company’s systems. It's not unreasonable to think that in a much shorter time than we expect, compliance will be about companies reviewing a return that's been drafted by the tax authorities."
Trend 4: Data simplification and lower-cost resourcing are top priorities
Tax leaders said that simplifying data management (53%) and moving to lower-cost resourcing models (51%) must be prioritized if tax is to become more proactive at delivering strategic insights to the business. Many tax teams are ensuring that they have a seat at the table as ERP systems are overhauled, which is paying dividends: 56% of those that have introduced NextGen ERP systems are now highly effective at supporting the business with scenario-modeling insights. Only 35% of those with moderate to low use of NextGen ERP systems said the same.
At Stryker, “we automated the source P&L process for transfer pricing which took a huge burden off of the divisions," says David Furgason, Vice President Tax. "Then we created a transfer price database to deposit and retrieve data so we have limited impact on the divisions. We are moving to a single ERP platform which will help us make take the next step with robotics.”
Trend 5: Skillsets are shifting
Embedding a new data infrastructure and redesigning processes are critical for the future tax vision. Tax leaders are aligned — data skills (45%) and technology process experience (43%) are ‘must have’ skills in a tax department of the future, but more traditional tax specialist knowledge also remains key (40%). The trick to success will be in tax leaders facilitating the way these professionals, with their different backgrounds, can work together collectively to unlock lasting value.
Take Infineon Technologies, which formed a VAT technology and governance group "that has the right knowledge about how to change the system to ensure it generates the right reports", according to Matthias Schubert, Global Head of Tax. "Involving them early was key as we took a greenfield approach, so we could think about what the optimal processes would look like and how more intelligent systems could make an impact
Trend 6: 2020 brought productivity improvements
Improved productivity (50%) and accelerating shifts to remote working (48%) were cited as the biggest operational benefits to emerge from COVID-19-driven disruption. But, as 78% of leaders now plan to embed either hybrid or fully remote models in the tax function long term, 34% say maintaining productivity benefits is a top concern. And, as leaders think about building their talent pipeline and strengthening advisory skill sets, 47% say they must prioritize new approaches to talent recognition and career development over the next two years, while 36% say new processes for involving tax in business strategy decisions must be established.