133 Target stores apparently missed the target in Canada. The Minneapolis-based retail giant announced it will close all its Canadian stores, leaving more than 17,000 people out of work. Target CEO Brian Cornell said it was “a very difficult decision, but it was the right decision for our company.”
It’s a bit of a mystery why Target failed to catch on in Canada, where it lost billions. Target’s US business–where it is the country’s second-biggest retailer–has seen steady growth. The Target stores in Canada will begin closing right away, with massive liquidation sales in the next few weeks.