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

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