Target’s prices in Canada are going to be higher than in the U.S.
Bad news: when Target’s first wave of Canadian locations opens this spring, the merchandise will be more expensive than in U.S. stores. Target Canada president Tony Fisher told the Globe and Mail that prices will be set to stay competitive with other Canadian retailers, not U.S. ones. We’re not all that surprised; Canada’s steeper tariffs and fewer economies of scale mean local shoppers are used to paying a little more than Americans. That said, Target is already well-known as a discount store to legions of cross-border shoppers who’ve been exploiting the loonie’s near-parity with the U.S. dollar for years—which means they’ll likely get angry in a hurry once they notice discrepancies. Just ask J.Crew. [Globe and Mail]