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After Target, get ready for more Walmarts

Twenty million square feet of space available for other retailers

Now that Target Canada’s obituary has been written, retailers are getting down to the next order of business: divvying up the inheritance.

The size of the prize is impressive: Target operated 133 stores across the country with some 20 million square feet of retail space.

Who will benefit the most from Target’s demise here remains to be seen. But odds makers are already betting on a favourite: Walmart.

Walmart has more than 400 stores countrywide and will no doubt pick up some of Target’s locations.

CIBC analyst Perry Caicco sees another potential bidder: Loblaw Companies.

“For Walmart, it’s an opportunity to acquire the best of the locations … and the transition would be quick and easy,” Caicco said. “For Loblaw, the perspective is more defensive–seeing that space go to Walmart would be troubling.”

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