Target to close 13 underperforming US stores

Target fashion 2015

2016 will not start well for Target. The value retail giant has announced it will close 13 US stores on January 30, citing long-term declining profits.

Spokeswoman Kristy Welker said the closures are due to the stores’ individual performance and unrelated to Target’s overall performance.

The retailer, which operates nearly 1,800 stores in the US, was hurt by a massive credit-card breach before Christmas 2013 and exited Canada earlier this year.

Layoffs in 2015 included 2,500 jobs, or about 20% of the workers at its corporate offices in Minneapolis and Brooklyn Park.

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