MINNEAPOLIS (AP) — It was announced today that Target plans to close 13 stores nationwide, including one in the city of New Ulm and two others in Milwaukee and Superior, Wisconsin.
The message from Minneapolis-based retailer says a decision to close a store usually follows several years of decreasing profitability. Target plans to close the stores on Jan. 30, 2016 after the holiday season. The 13 stores are just a small fraction of Target’s nearly 1,800 stores in the U.S.
If you recall, Target was hurt by a massive credit-card breach before Christmas 2013 that sent shoppers temporarily fleeing. The company also botched the opportunity through major expansion into Canada and ended up pulling the plug on that earlier this year.
Additionally, layoffs in 2015 included 2,500 jobs, or about one-fifth of the workers in the company’s corporate offices in Minneapolis and Brooklyn Park.