11/29/14

Target is no longer flavor of the month, it has stalled out and is now closing as many stores as it opens in an attempt to dump their many dud stores.  19 stores closing equals how many were opened last year.


Target Is Closing As Many 

Stores As It Opened Last Year



Target might have Alex, but the teen heartthrob isn't enough to save some of the company's stores from getting the ax.

The retail giant said Tuesday that it plans to shutter 11 underperforming stores by next February, about six months after it closed eight other locations. That brings the total number of closures to 19 this year -- as many locations as the company opened last year, according to its annual report.

“The decision to close a Target store is only made after careful consideration of the long-term financial performance of a particular location,” the company said in a statement. “All eligible store team members are being offered the option to transfer to other Target stores.”

Employees who choose not to transfer will receive severance payments, the statement said. The stores, closing by Feb. 1, 2015, include locations scattered throughout the South and Midwest. Evan Lapiska, a Target spokesman, said each store currently employs roughly 100 workers.

Target has struggled over the past year in the wake of a massive breach of customer data, which cost its chief executive his job. The company is also facing trouble as big-box retailers lose ground with shoppers to smaller stores and e-commerce sites.

In response, Target began testing smaller, urban express stores and beefed up its digital team in July. In this case, the company appears to be trimming fat as part of its turnaround strategy.

Here’s a full list of stores closing:


Lithonia, Georgia
8109 Mall Parkway
Lithonia, Ga.

Castleton, Indiana
8448 Center Run Drive
Indianapolis, Ind.

Monroe, Michigan
2121 N. Monroe St.
Monroe, Mich.

Clinton, Iowa
2900 S. 25th St.
Clinton, Iowa

Wichita East, Kansas
301 S. Towne East Mall Drive
Wichita, Kan.

Northland, Michigan
21400 Northwestern Highway
Southfield, Mich.

McHenry, Illinois
1860 N. Richmond Road
McHenry, Ill

Bay City, Michigan
4135 Wilder Road
Bay City, Mich.

Austin, Minnesota
1701 18th Ave. N.W.
Austin, Minn.

Calumet City, Illinois
1717 E. West Road
Calumet City, Ill.

Carrolton, Texas
2620 N. Josey Lane
Carrollton, Texas

Topix