Target To Close 13 U.S. Stores On Jan. 30

Target Corp. said it will close 13 U.S. stores on Jan. 30, 2016. Affected stores include locations in California, Florida, Arizona and Wisconsin. The company said store associates at the impacted locations have been notified and eligible workers are being offered the option to transfer to another location. "Typically, the decision to close a store is as a result of seeing several years of decreasing profitability," the company said in a statement. Target is opening 15 stores in 2015 in major cities including San Francisco, Washington D.C. and Chicago. Target shares are up 1.8% for the year so far while the S&P is up 2% for the same period.