Target closing 11 stores

Target (NYSE:TGT) announced it will shutter 11 locations as of Feb. 1 of next year.

"The decision to close a Target store is only made after careful consideration of the long-term financial performance of a particular location," said the company's statement.

Employees at the locations are being offered an option to transfer to another store or a separation package.

The store locations include Lithonia, Georgia; Castleton, Indiana; Monroe, Michigan; Clinton, Iowa; Wichita East, Kansas; Northland, Michigan; McHenry, Illinois; Bay City, Michigan; Austin, Minnesota, Calumet City, Illinois; and Carrolton, Texas.

Similarly, last year Target closed four locations and three in 2012.

The announcement comes just a few days after an analyst made predictions that the big box chain may soon be exiting Canada. Target's struggles since entering the Canadian market have been well documented—finishing its first year in Canada with a fourth-quarter operating loss of $329 million.

For more:
-See this Target press release

Related stories:
Target CMO responds to employee rant
Target CEO Gregg Steinhafel to step down immediately  
Target: Timeline of a data breach
Target's data breach is a story with long legs
Target breach: Heating vendor confirmed as hackers' entry point

Suggested Articles

Costco changes up its menu items, and Alibaba and Guess partner for a physical store.

Janey Whiteside, Walmart's new chief customer officer, is well acquainted with the importance of customer service in modern retail.

Whole Foods will offer deals on Amazon's Prime Day, and tariffs against China are causing pricing hikes.