Target’s entry into the Canadian market in 2013 was its first foray into international expansion.
A combination of extensive renovation needs, a flawed merchandising system, a short time frame and a lack of management were some of the reasons why the wholesaler decided to close all 133 stores in the country in 2015.
Target has no plans to expand abroad in the near future and is instead narrowing its focus on its domestic operations. Company profit fell by almost 90% during the second quarter compared to the period of the previous year to excess unwanted inventory. He plans it to completely renovate 200 existing stores and open 30 more in 2022.