PodcastsJan 12, 2026
The latest poscasttest
MajorsJan 15, 2015
Target to close all stores in Canada
Target announced Thursday that it will discontinue the operations of the 133 stores it has opened in Canada and refocus on growing its U.S. business.
After a failed expansion into Canada, Target Corp. said it is turning its focus back to its stores in the United States. The Target pictured here is in Martinsburg, Va.
Minneapolis--Target announced Thursday that it will discontinue the operations of the 133 stores it has opened in Canada since expanding into the market less than two years ago.
Target CEO Brian Cornell said in a statement that the company recently evaluated the Canadian division and was “unable to find a realistic scenario that would get Target Canada to profitability until at least 2021.”
He added that the company was hoping that the operations put into place up to now would lead to a stronger holiday season, but that they “did not see the required step-change in our holiday performance.”
As part of the process, Target has obtained an Initial Order from the Ontario Superior Court of Justice for creditor protection under the Companies’ Creditors Arrangement Act to begin a court-supervised wind-down of its Canadian businesses.
The company will turn its focus back to growth and momentum in the U.S. market, and will operate as a single segment to include all U.S. operations.
Target’s expansion into Canada began in March 2013, opening a total of 124 stores within the first year.
Target currently has 133 stores across Canada, employing approximately 17,600 people. The retailer said it stores will stay open during the liquidation process, which will be executed by Aaron Alt, who served as senior vice president and treasurer and now has been named CEO of Target Canada.
The company expects the cash costs of discontinuing its Canadian operations to be between $500 and $600 million, much of which will occur in Target’s 2015 fiscal year or later.
Despite the decision, the retailer said it still expects to increase its earnings in fiscal 2015 and cash flow in fiscal 2016.
In terms of the company’s recent performance in the U.S., based on the holiday sales through November and December, Target said that it expects to report a 3 percent increase in comps in the fourth quarter, driven by increased traffic and strong digital sales.
Editors' Picks
Sponsored by
More on Majors
The Latest
Weekly QuizOct 03, 2024
This Week’s QuizTest your jewelry news knowledge by answering these questions.
PodcastsJan 12, 2026
Introducing My Next Question, the PodcastA monthly podcast series for jewelry professionals
Brought to you by
Navigating Cybersecurity: Essential Guidance for JewelersFrom protecting customer data to safeguarding inventory records, it's crucial to learn how to tackle cybersecurity challenges.
PodcastsNov 27, 2025
Test Podcast With VideoTest Podcast With Video. New interview with Ada Lovelace.
PodcastsNov 25, 2025
Test New Podcast PostAbstract for tests. New Podcast interview with John Lennon, Jimi Hendrix and Jim Morison.
ColumnistsOct 09, 2024
Peter Smith: 7 Things to Know When Selling LuxuryAhead of the holiday season, Smith delves into the often subconscious reasons people buy luxury products for themselves or their loved ones.
AuctionsOct 09, 2024
Rolex Worn on Apollo 14 Mission Up for SaleThe GMT-Master “Pepsi” belonging to astronaut Edgar Mitchell is a standout in RR Auction’s online “Space Auction,” going on now.
MajorsOct 09, 2024
PGI Launches New Virtual Sales TrainingRetail sales associates can access the video series on mobile to refresh their selling skills.
Policies & IssuesOct 09, 2024
GJNRF: Reaching Out, Rebuilding Futures For 25 years, India’s Gem & Jewellery National Relief Foundation has provided aid in the wake of war, natural disasters, and global crises.
AuctionsOct 08, 2024
Sotheby’s Selling Jewelry That Belonged to a Bulgarian TsarThe November auction will feature a collection of jewels owned by Ferdinand I, the first king of modern Bulgaria, and his family.
SourcingOct 08, 2024
Rio Tinto Begins New Phase of Production That Will Extend Diavik’s LifeCommercial production has begun underground at the Canadian diamond mine’s A21 pipe.
SurveysOct 08, 2024
What to Know About Online Shopping This Holiday SeasonDeloitte and Adobe Analytics shared their insights on the season, from the retail sales forecast to the role of generative AI.
CollectionsOct 08, 2024
Sylvie Adds New Men’s BandsThe Texas-based jeweler collaborated with luxury clothing brand Uncommon Man on men’s bands designed with European influences.
SourcingOct 08, 2024
Is Current Diamond Industry Turbulence Shaping a ‘New Normal’? Industry players have found ways to cope with market conditions while working to reshape themselves in the face of emerging realities.
SourcingOct 07, 2024
Rio Tinto to Offer 76 Diamonds in 2024 Beyond Rare Tender The sales event, in its second year, features a selection of rare diamonds from the miner’s Argyle and Diavik diamond mines.
CollectionsOct 07, 2024
Olympian Kristi Yamaguchi Partners With Heller Jewelers on New CollectionA portion of the proceeds from the “Always Dream” collection will go to Yamaguchi's foundation, supporting early childhood literacy.
SurveysOct 07, 2024
Hill & Co.’s New ‘Business of Jewelry Report’ Is OutThe first in what is slated to be a series of in-depth reports from the consulting company, it focuses on shortening supply chains.
