Cross Border Pro

Tanger Factory Outlet Centers Announces Move Into Canada

U.S. based Tanger Factory Outlet Centers Inc. has announced that they will be building their first Canadian mega-outlet mall in Ottawa.  Tanger has partnered with Canadian based RioCan Real Estate Investment Trust.  Tanger plans to develop 10 to 15 American-style outlet centres across Canada.  Tanger Outlets are well known to crossborder Canadian shoppers and offer discount brands such as Adidas, Dockers, Ecco, Levis and Nine West. With U.S. retailers racing to enter the Canadian market and financially strong Canadian shoppers looking for American products this is likely a good move for Tanger.  American retailers with locations in Tanger Outlets in the U.S. might feel more comfortable moving into the Canadian market if they can locate in a familiar location format such as the Tanger Outlets.

Nordstrom looks to the North

Seattle Washington retailer Nordstom has announced that they are looking at expansion into Canada. Locations haven't been announced and speculation is that they are waiting for just the right spot to become available.  Nordstom is known for being very selective in its store location choices.  Until now, Nordstrom has focused growth within the United States.  However, they know they have a customer base already in Canada and with the strong Canadian economy and limited expansion opportunities in the U.S. right now, Canada becomes a viable option.

JELD-WEN, Inc. Acquired by Canadian Company

Publicly traded Canadian private equity firm Onex Corp. acquired a 58% interest in family-owned and professionally managed JELD-WEN, Inc., an Oregon-based manufacturer of doors and windows.  The total investment amounted to $871 million.

Canadian Economy Lures International Retail Interests

Target Corporation's late-2010 announcement of expansion into Canada leaves Kroger, Walgreens, and CVS Caremark as the only top-10 retailers who have not publicly announced plans to open stores in Canada.  Some of the U.S. major brands rumored or confirmed to enter the Canadian market include:  Marshalls, J.C. Penny, Topshop, J.Crew, Kohl's, and Dick's Sporting Goods.  It is expected that some of the most familiar Canadian brands will disappear as U.S. retailers expand into Canada.  This push into Canada is driven by the stong Canadian dollar, strong Canadian economy, and strong Canadian consumer.  http://issuu.com/knowledgeleader/docs/fall2011?mode=embed=true&pageNumber=6

 

B.C. Exports to U.S. rebound in August

Exports to the U.S.expanded 6.6% to $1.2 billion in Auugst, recovering from the slow down seen a month earlier.  Highest increase in exports to the U.S. where seen in agriculture and fish and industrial and consumer products.

U.S. Payday Loan Companies Expand Into Canada

Vancouver B.C. based Credilogic recently sold to Kansas based QC Holdings Inc. for US$12 million.  QC operates 500 payday loan stores in the U.S. and announced that this purchase helps them diversify their revenue stream by expanding to Canada. 

In May Kansas based Speedy Cash expanded its online payday loan business when it bought Ontario based CashMoney for approximately $100 million.