Content about Douglas Scovanner

April 13, 2011

Target expects sales from its upcoming Canadian stores to total more than $6 billion by 2017, Dow Jones reported.

NEW YORK — Target expects sales from its upcoming Canadian stores to total more than $6 billion by 2017, Dow Jones reported.

Speaking to Wall Street analysts, CFO Douglas Scovanner said Tuesday that Target expects to have more than 200 stores in Canada within the next five to 10 years, with the stores generating about $6 billion Canadian ($6.27 billion in U.S. dollars based on Tuesday’s exchange rate).

Target’s initial group of stores will open through the chain’s purchase in January of up to 220 leases held by Hudson's Bay Co.'s Zellers stores.