Target’s entry into the Canadian market in 2013 was the first step in international expansion.
A combination of extensive renovation needs, a flawed merchandising system, a tight time frame and insufficient leadership were some of the reasons the big-box retailer decided to close all 133 stores in the country in 2015.
Target has no plans to expand internationally for the foreseeable future and is focusing instead on its home business. Operating profit fell by almost 90% in the second quarter compared to the same period last year due to excess inventory. It plans to completely renovate 200 existing stores by 2022 and open another 30.