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Target lays off 550; Canada chief returns to U.S.
The president of Target Canada will return to the fold in the United States as the company shuts down its Canadian operations.
According to the Minneapolis-St. Paul Business Journal, Target Canada president Mark Schindele will return to the company’s U.S. operation and assume a new position of senior VP of retail properties.
The newspaper also reported that about 550 employees in Minnesota were laid off, the biggest reduction at its headquarters since 2009.
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NRF: Retail sales to rise 4.1% in 2015 in biggest increase in five years
Washington, D.C. -- Retail sales (excluding automobiles, gas stations, and restaurants) will increase 4.1% in 2015, up from 3.5% in 2014, according to the National Retail Federation’s 2015 economic forecast. The increase would mark the biggest annual growth since 2011 when retail sales for the year increased 5.1%. Non-store sales in 2015 are expected to grow between 7% and 10%.
