Speed Reads

So long

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.