Target is giving up on Canada
Target announced Thursday that it would soon close all of its stores in Canada just two years after the Minnesota-based company opened shop across the border.
Citing unexpectedly high costs, the department store said it would shutter 133 locations and lay off about 17,600 people. In a statement, Target CEO Brian Cornell said the company saw no way to make the Canadian venture profitable until at least 2021.
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Jon Terbush is an associate editor at TheWeek.com covering politics, sports, and other things he finds interesting. He has previously written for Talking Points Memo, Raw Story, and Business Insider.
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