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Target to shut 133 Canada stores

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  • Target to shut 133 Canada stores

    Associated Press 1/15/215

    MINNEAPOLIS (AP) — Target is closing up shop in Canada.

    More than 17,600 employees will eventually lose their jobs when the U.S. discount retailer closes its 133 Canadian stores after only about two years to end financial losses that went as high as a billion dollars a year.

    Target Corp. Chairman and CEO Brian Cornell said Thursday that the company didn't see a realistic way for the chain to become profitable before at least 2021. Cornell said on Target's corporate blog that its Canadian arm was losing money every day.

    The closing is Cornell's first major move since becoming CEO in August. Target will concentrate instead on improving its U.S. business.

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    Retail Security Consultant / Expert Witness
    Co-Author - Effective Security Management 6th Edition

    Contributor to Retail Crime, Security and Loss Prevention: An Encyclopedic Reference

  • #2
    Target Rescinds Job Offers For Entire Class Of New Hires Just Weeks Before Start Date

    I just heard that this morning. It sort of surprised me, but then after reading the article referenced here, it makes sense. I am working just a few blocks from their world headquarters. There seems to be more bad news than good news lately from Target.