Stores in Florida, North Carolina, Oregon and Colorado will be shut on Jan. 28. Despite the closures, Target still has 1,767 stores across the nation.
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"After careful consideration of the financial performance,” Minneapolis-based Target Corporation announced Wednesday it plans to close four stores in Colorado, Florida, Tennessee and Virginia, according to company news releases. All four retail stores will close permanently on Feb. 2, 2013.
Target on Thursday confirmed the locations of its first 24 stores north of the border. The retailer says it plans to open up to 135 stores across Canada.
That's close to one out of every three stores. The Minneapolis St. Paul Business journal says there's no word yet if any of the 16 Gap stores in Minnesota will be affected.
All Twin Cities stores are set to close next week.
Eden Prairie-based Supervalu announced Wednesday that it will close 60 stores in hopes of generating up to $90 million over the next three years. None of the stores are in Minnesota. The closures affect 22 Save-A-Lot locations, 27 Albertsons stores, four Acme stores, and one store from the Jewel-Osco chain. Eight other stores to be closed have not been released.
The women's clothing company based in Plymouth says it plans to close the stores by the end of January and will also lay off employees at its corporate office.
The retailer is shutting down all 11 of its big-box stores in the United Kingdom by the end of the year. The company says its rethinking its strategy in Europe after the stores proved to be a drain on its financials. Meanwhile, the retailer also announced that its buying out Carphone's interest in its Best Buy Mobile business as it tries to more fully capitalize on the mobile industry.
