Target is the kind of place that you walk into with a list of three items and walk out with double (OK, triple . . .) what you intended to leave with, but with its amazing deals and countless ways to save, shoppers always keep coming back for more. Unfortunately for Canadians, they will soon have to cross the US border if they want to lose themselves in the endless aisles that hold everything most shoppers could want or need.
Target Corp. is officially shutting down all 133 stores in Canada, after putting over $4 billion into setting up shop in the country. The retailer has decided to pull out due to over $2 billion in losses after less than two years since expanding. There are several factors contributing to the significant losses, like poorly placed stores, limited selection of products in the shops, and competition with similar retailers, like Walmart. Canadians have also claimed that the low prices that make Target so appealing in the States are not offered in their country on the same scale as they are in the US.
The Canadian division, which employees 17,600 people, is waiting for court approval in order to begin liquidation, with new CEO Brian Cornell spearheading the move. "We were unable to find a realistic scenario that would get Target Canada to profitability until at least 2021," Cornell said. "This was a very difficult decision, but it was the right decision for our company."
Fans of the store, of course, were not pleased. Many took to social media to express their feelings about the closings. See what Twitter users had to say.
Wtf target you can't just come here and leave stop playing with my emotions— thea (@theawessler) January 15, 2015
I'm not at all surprised Target is pulling out of Canada. Every store I've been to here has been terrible, both service and stock.
— DanaDeMille (@DanaDeMille) January 15, 2015
The War of 1812 lasted longer than Target did in Canada.
— Jesse Taylor (@jtwpg) January 15, 2015
target is closing all of it's Canadian stores this is why I don't get attached to things
— jessica☯ (@jmacfarlane_) January 15, 2015
Target finally exiting Canada. Says it couldn't find realistic profitability scenario until at least 2021. Shares up 3% $TGT
— Carl Quintanilla (@carlquintanilla) January 15, 2015
Looks like target......missed the mark /YEEEEEEAAAAAAAAAAAAH
— JaredOfLondon (@JaredOfLondon) January 15, 2015
@johnhaldson it appears to me that Target overestimated Canadians appetite for mega stores.
— Brock Whitten (@sintaxi) January 15, 2015