Target out of Canada - close all 133 stores.

I really hate to be the bearer of bad news this early in the morning, but we're pretty sad to announce that Target is closing all of its 133 Canadian stores for ever and EVER! 

Noooo!

Here's what Brian Cornell, Target's CEO and chairman, had to say about their decision to close all Canadian branches.

“After a thorough review of our Canadian performance and careful consideration of the implications of all options, we were unable to find a realistic scenario that would get Target Canada to profitability until at least 2021. Personally, this was a very difficult decision, but it was the right decision for our company. With the full support of Target Corporation’s Board of Directors, we have determined that it is in the best interest of our business and our shareholders to exit the Canadian market and focus on driving growth and building further momentum in our U.S. business.”

The company who employs about 17,600 people will remain open for a short period of time to liquidate its inventory (SALES!)

“nearly all Target Canada-based employees receive a minimum of 16 weeks of compensation, including wages and benefits coverage for employees who are not required for the full wind-down period.”

We do not know yet when exactly the Canadian stores will be shutting down for good, but we doubt it'll be in long. 

*blink* like it never happened.