Open, Close: Target Shutters As Many Stores As It Opens
If you haven’t noticed, Target been closing more and more stores. And the retailer just announced that by February it will close 11 more underperforming stores. This will come just about six months after it closed eight other sites. In all, the chain will have shuttered 19. But what is unusual, this is also the same number of stores the retailer opened last year, according to its annual report.
“The decision to close a Target store is only made after careful consideration of the long-term financial performance of a particular location,” the company said in a statement. “All eligible store team members are being offered the option to transfer to other Target stores
Target will allow employees to transfer or to receive severance payments, the statement read. “The stores, closing by Feb. 1, 2015, include locations scattered throughout the South and Midwest. Evan Lapiska, a Target spokesman, said each store currently employs roughly 100 workers,” reports The Huffington Post.
Since the huge cyber security breach of customer data, Target has been struggling to bring consumers inside its doors. Even the chief executive lost his job. And as shoppers reject big-box retailers by favoring smaller stores and e-commerce sites, Target has been looking for ways to bring back its customers.
One concept it’s trying out are smaller, urban express stores as well as offering better online shopping. Are you still a loyal Target customer, even after the security breach?