TORONTO — A contact of Target is coming again to Canada. Hudson’s Bay introduced Friday that it’ll begin stocking the U.S. retailer’s kids’s attire model Cat & Jack in its malls and on-line on March 14.
TORONTO — A contact of Target is coming again to Canada.
Hudson’s Bay introduced Friday that it’ll begin stocking the U.S. retailer’s kids’s attire model Cat & Jack in its malls and on-line on March 14.
Cat & Jack sells clothes for teenagers beneath the age of 12 at costs as little as $7 and as excessive as $35. Its vary of attire contains tank tops, T-shirts, shorts, pants and attire.
Its look in Hudson’s Bay shops marks the primary time the model has been bought outdoors Target’s shops and web site.
Hudson’s Bay didn’t make anybody available for an interview on the announcement, however the partnership seems to be positioned as a strategy to ship cost financial savings to customers who’ve grown annoyed with inflation making on a regular basis purchases costlier.
“Now more than ever parents are looking for stylish and durable clothing that is also affordable for their families,” Liz Rodbell, president and chief government of Hudson’s Bay, in a press launch.
“We’re listening to clients and are very targeted on delivering an assortment that’s related and displays what Canadian households are searching for.”
Cat & Jack’s look in Hudson’s Bay shops comes almost a decade after Target introduced in January 2015 that it will shut its 133 Canadian shops and lay off about 17,600 workers, slightly below two years after it arrived within the nation.
“Simply put, we have been shedding money each day,” Target’s chief government Brian Cornell mentioned, when the exit announcement was made.
On Friday, the corporate was far more enthusiastic concerning the market. Target is “happy” to work with Hudson’s Bay because it continues to broaden “this established space of our business,” mentioned Bill Foudy, president of owned model sourcing and growth, within the launch.
Cat & Jack has been steadily rising because it was launched in 2016.
It is now a US$3-billion model that sells greater than 300 million gadgets a 12 months, equating to about eight items of merchandise per youngster within the U.S. beneath 12, Jill Sando mentioned on a Tuesday earnings name.
“This is a part of a discretionary class, however Cat & Jack is a model that drives repeat business for Target due to nice costs and nice high quality, which folks love and nice design that children love,” mentioned Target’s government vice-president and chief merchandising officer of attire and equipment.
“It drives journeys and gross sales throughout the shop throughout key moments like back-to-school and all year long as children develop into new sizes.”
Despite the corporate’s optimism, retail analysts have warned the attire sector is going through “extremely volatile” situations this 12 months as individuals forgo buying merchandise they do not see as important to deal with excessive costs.
Consulting agency McKinsey and Co. expects year-over-year retail gross sales progress between two and 4 per cent in 2024, effectively under the double-digit progress some markets noticed in 2021.
This report by The Canadian Press was first printed March 8, 2024.
Tara Deschamps, The Canadian Press
