Target to close a dozen stores

BusinessRetail

by Talk Business & Politics staff ([email protected]) November 7, 2017 4:45 pm 1,313 views 

Brick-and-mortar retailers continue to scale back their physical footprints with Target announcing Tuesday (Nov. 7) plans to shutter 12 stores in early February. No stores in Arkansas are being impacted.

“We have a rigorous process in place to evaluate the performance of every store on an annual basis, closing or relocating underperforming locations as needed,” Target said in a statement announcing the closures.

The retailer also said decisions to close stores are based on several years of decreasing profitability. The stores slated to close are in the following locations:

  • Macon, Ga.
  • Lauderhill, Fla.
  • Matteson and Romeoville Ill.
  • Hutchinson, Kan.
  • Slidell, La.
  • Baltimore, Maryland
  • Harper Woods, Benton Harbor Mich.
  • Fegus Falls, Minneapolis, Minn.
  • San Antonio, Texas

Target will continue to remodel 1,000 of its 1,800 stores in the next two years and said it will also open 35 more of the small-format stores next year. Target already has 32 of the small format stores, which CEO Brian Cornell said are performing well.

Target will report earnings Nov. 15.