U.S. Apparel Retailers Look to Canada for Growth
Risk-shy from the recession but anxious for growth, U.S. retailers are expanding internationally at a creep — into Canada. J. Crew Group Inc. is scouting its first non-U.S. locations. Limited Brands Inc. is bringing Victoria's Secret north, and plans to double its Bath & Body Works stores there by year end. Gap Inc. is opening more outlet stores. The border crossings underline a wider dilemma facing CEOs in many industries. Many feel the economy is still too fragile to take big ambitious risks, but they still need to restart growth. Canada offers a baby step: a way to expand internationally, but in a market that's closer and more familiar than Europe or Asia.