16:22:05 EDT Thu 18 Apr 2024
Enter Symbol
or Name
USA
CA



Rona Inc
Symbol RON
Shares Issued 113,596,360
Close 2015-01-16 C$ 12.51
Market Cap C$ 1,421,090,464
Recent Sedar Documents

Globe says RioCan's Target leases guaranteed by parent

2015-01-19 06:51 ET - In the News

See In the News (C-REI) RioCan Real Estate Investment Trust

The Globe and Mail reports in its Saturday, Jan. 17, edition that RioCan Real Estate Investment Trust chief executive officer Edward Sonshine says Target "is a case study of how not to come to Canada." The Globe's Marina Strauss writes that RioCan is Target's largest landlord. Mr. Sonshine expects major incumbent retailers will vie for some of his malls' 26 Target leases, along with home improvement chains Rona and Lowe's Canada. Mr. Sonshine says the Target closings are an "aggravation" for RioCan but could result in it attracting more productive retail tenants and higher rents. He says RioCan's Target leases are generally guaranteed by Target's parent for their remaining terms. The RioCan CEO does not expect new retail entrants from the United States to try to swoop in. The sluggish economy, weak Canadian dollar and slumping oil business may also deter U.S. retailers from setting up shop here, says Mastermind Toys president Humphrey Kadaner. He says: "One less player in Canada may ease up some of the pressures on some people. But there are always other natural and competitive pressures. The good ones will fill the void and pick up more than their fair share of what Target is leaving behind."

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