Target to exit Canada, didn't foresee operations being profitable until at least 2021

IndustriesAssociated Press

Target is exiting Canada.

Chairman and CEO Brian Cornell says the company was unable to find a realistic scenario in which Target Canada would become profitable before at least 2021.

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The retailer said Thursday that it anticipates approximately $5.4 billion in fourth-quarter losses from discontinued operations in Canada.

Target Corp. currently has 133 stores in Canada with about 17,600 employees.