Industry Insider

Target to Shut Down Operations in Canada

The twittersphere and social media world has been rocked this morning with news that Target Canada is closing.

Third-quarter Canadian segment sales increased 43.8 per cent to $479-million from $333-million last year, according to the company earnings report

“All the stores in Canada are performing well below our expectations,” said Mulligan, speaking Wednesday about the company’s third-quarter performance.

“This was a very difficult decision, but it was the right decision for our company,” said Target CEO Brian Cornell.

More to come.

(source; Toronto Star, CTV News)