Target Corp. on Wednesday said its fourth-quarter net income slipped 2 percent, partly because of costs related to its Canada launch, which begins in April. The company plans to open 124 stores there by the end of the year. Here CFO John Mulligan discusses store opening plans in Canada.
QUESTION: How do you plan to open stores in Canada?
RESPONSE: Due to the number of stores we have in Canada, we're taking an approach that we're going to open five cycles this year, so think April, May, and every couple of months beyond that, we're going to open somewhere between 20 and 28 stores a cycle. We haven't defined all of that yet, but we're going to start in the greater Toronto area. Then we're going to move to Western Canada. ... So we've got a good plan that is centered around our supply chain and investments and the readiness of our distribution centers.