U.S.-based retailers, faced with limited growth options domestically, are migrating to Canada to seek new expansion opportunities, says Antony Karabus, CEO of Hilco Retail Consulting. And it is primarily through mergers and acquisitions that retailers are choosing to plant their flags north of the border. DSW recently put Town Shoes, Canada's largest footwear retailer, into its shopping cart rather than build its presence organically. Potential targets going forward could include Sears Canada, which is now exploring a sale of the whole company, and Giant Tiger, another large retailer that could end up a target after putting itself on the block last fall.

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