Target closing 13 stores nationwide citing falling profits

Before you go, we thought you'd like these...
Before you go close icon
Target 1Q Profit Falls 16 Pct As Breach Takes Toll

MINNEAPOLIS (AP) -- Target plans to close 13 stores nationwide, including one in New Ulm and two others in Milwaukee and Superior, Wisconsin.

The Minneapolis-based retailer says a decision to close a store usually follows several years of decreasing profitability. The retail giant plans to close the stores on Jan. 30, 2016.

Target was hurt by a massive credit-card breach before Christmas 2013 that sent shoppers temporarily fleeing. The company also botched a major expansion into Canada and pulled the plug on that earlier this year.

Layoffs in 2015 included 2,500 jobs, or about one-fifth of the workers in the company's corporate offices in Minneapolis and Brooklyn Park.

More from
Here's the dirty secret that's inflating the tech bubble
AP Source: Gov't to fine Takata $70M in air bag recall case
The 10 biggest mistakes you can make in a Wall Street job interview

Read Full Story
Credit Card Compare

Credit Card Compare

Whether you're looking for great travel rewards or low annual fees, find the card that's right for you.

Compare Now

From Our Partners