Target To Discontinue Its Canadian Business

The retailer’s exit from the country continues a cascade of sizable financial events, including the $6.5 billion in investments and losses it has posted to date, plus costs related to store closures, minus whatever it can salvage through liquidation of assets. Target expects to take a profit hit of close to $5.4 billion in Q4 mainly related to write-down of its investments. In 2015, Target will report $275 million in pre-tax losses.

Leave a Reply

Your email address will not be published. Required fields are marked *