These are 23 New OMG! Photos from the Empty Target Canada

Is this really happening?  Yes, it is.

Disclosure: Belus Capital Advisors presently rates shares of Target a sell.  To view that report, please visit the Thomson/Starmine platform or send a confidential email here.

At this point, I am just going to let the pictures below supplied from our Target Canada source speak for themselves. I have written extensively on Target Canada since its launch, offering up all of the relevant financial facts to support the sorry visuals. However, I will inject this new thought stream after talking with our source.

The fundamental issues, from keeping shelves stocked (process and tech related) to articulating a low price message to skeptical Canadian customers, appears to be getting worse at the division instead of stabilizing as suggested by management on the third quarter earnings call. One almost is overcome with this creepy feeling (at least we are given our close tracking of the situation) that Target will go the way of many U.S. brands that ventured into Canadian retailing…extinct.

Throwback Pieces on Target Canada

In looking at all of the pictures dating back to the initial piece, you can sense the situation becoming worse…

This is What’s Happening at @TargetCanada Right Now

  • Date: January 14, 2014
  • Link

O’ Target Canada!

  • Date: August 19, 2013
  • Link

The NEW Vertical Slideshow

Ever see a table like this at your local Target? Yes, that is 90% off.  Yes, it’s irrelevant that most of the merchandise appears to be holiday, that type of discount is alarming at a newly opened business.

TGT 4

Not holiday merchandise.

TGT 22
The completely barren, traffic-driving basics wall.

Target 1
Why have a display wall at all?

TGT 2
:::Visions of some of the Kmart stores we have visited lately:::

TGT 9
Where is the depth in the merchandise (meaning there should be multiple rows of products here)?

TGT 3
A prime corner spot on the sales floor, virtually empty of sizes and other choices.

TGT 5
:::Visions of some of the U.S. Sears locations we have visited lately:::

TGT 6
Again, no depth in the product rack.

TGT 8
Side angle.

TGT 26
Where is the stock in household essentials?  These must be in stock if Target Canada is to compete with Wal-Mart and traditional grocers.

TGT 7

Actually, it looks as if workers are being told to push up merchandise on the shelves because the store is unsure on when new shipments will arrive.

TGT 12

There goes that higher margin sale.

TGT 10

To get a feel for the food out of stock issue.

TGT 11

Out of stocks on every shelf.

TGT 15

Emptiness.

TGT 16

Curveball: forget the empty shelves, look at the dominant clearance signs on the cheap chic items Target is known for in the U.S.

TGT 17

Missing: cheap chic in stock.

TGT 18

You should get the message by now.

TGT 20

Same deal.

TGT 21

Not normal.

TGT 25

Forget those impulse buys at checkout.  Good to see Starbucks in a Target Canada, however.

TGT 24

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