Target to all Shut 133 Canadian Stores and Sack 17,600 employees after losses of $1 BILLION a year

Target has announced that it is shutting133 Canadian stores after enduring financial losses of almost a billion dollars a year, This decision will cause more than 17,600 employees to lose their jobs when the U.S. discount retailer closes its stores.

 

Target Corp. Chairman and CEO Brian Cornell said on 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.