TORONTO — Target is closing all of its stores in Canada, less than two years after its splashy debut.
The Minnesota-based retailer announced on Thursday that it plans to discontinue operating its 133 Canadian stores to stem financial losses that went as high as $1 billion a year. Around 17,600 employees are expected to lose their jobs.
A Target spokesperson told Mashable that the company's rapid expansion partly led to its failure in Canada. "We tried to do too much, much too fast," public-relations manager Molly Snyder said. Despite some progress before the holidays, Canadian customers still "didn't respond," she added Read more...
More about Target, Canada, Business, Us, and World
