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.
The limited edition collection sold out at most Target stores in minutes Tuesday. The mad rush for the Italian designer's special line also crashed Target's website. But the Minneapolis-based retailer says more merchandise is on the way.
Following reports on Friday, Target Corp. is officially joining several other major retailers, including its Arkansas-based rival Wal-Mart Stores Inc., that are kicking off the holiday shopping season on Thanksgiving, the Star Tribune reports. Minneapolis-based Target stores will open its doors at 9 p.m. on Thursday, Nov. 22 -- three hours earlier than a year ago.
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.
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