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RETAIL DEBACLE OF THE DECADE: Target to Exit Canadian Market, Will Shutter All 133 Stores

by Kavita Kumar, Star Tribune:

Target Corp.’s multibillion dollar bet in Canada is officially a bust.

After its first attempt to expand globally turned into an embarrassing and costly debacle, the Minneapolis-based retailer announced on Thursday that it will shutter its 133 stores north of the border and will instead focus its energies on revitalizing its core 1,800-store U.S. business.

The decision comes less than two years after Target opened its first stores in Canada to much fanfare. The operation quickly became a black eye for the company as it struggled to get the basics right. Its problems keeping shelves stocked were mocked on social media and turned off many consumers, while Canadians also complained that Target’s prices were too high.

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