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AMERICAN RETAILER TARGET’S January decision to close all 133 of its stores in Canada, including 10 in Atlantic Canada, was an example of a business expansion gone wrong. But not all forays into Canada by foreign-owned retailers go so badly.
In fact, according to Industry Canada’s most recent statistics, 53 per cent of the top 124 leading retail organizations in Canada in 2011 were foreign-owned and operated. And with the U.S. being Canada’s closest neighbor and largest trading partner, it should come as no surprise that many U.S.-based retailers have established a large (and profitable) presence in Canada. But which ones have raked in substantial revenues in Canada? What follows is a list of three of the most successful in terms of annual revenue, plus how many stores they currently have in Atlantic Canada.
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