Target, Inc.

Toronto – Sears Canada is reaching out to Target’s Canadian employees. The retailer is encouraging the 17,600 workers who will likely lose their jobs when Target exits the Canadian market later this year to apply for jobs online.

Sears Canada also plans to host job fairs for soon-to-be-laid-off Target employees across Canada, and will host a meet-and-greet for Target Canada head office employees with senior executives and HR experts at its corporate headquarters on Wednesday, Jan. 21.

North Plainfield, N.J. -- Levin Management announced it has been awarded three new leasing and management assignments totaling more than 1 million sq. ft. in New Jersey and Pennsylvania. The properties include two grocery-anchored shopping centers and a regional mall.

In reviewing Target’s troubled expansion into Canada, Kantar Retail breaks down the misfires into a finance-operations model:

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Brian Cornell, CEO and chairman of Target Corp., used the company’s A Bullseye View blog to discuss Target’s decision to shutter its operations in Canada.

Does this decision mean that Target is declaring bankruptcy?

Talk about ripping off the Band-Aid. Target Chairman and CEO Brian Cornell moved swiftly and decisively in deciding to exit Canada, however his actions aren’t without precedent.

Big Lots took similar action after it entered Canada and last fall, a month after Cornell took the helm, the prospects of Target’s exist from the market were explored in the third quarter edition of Retailing Today’s Target Supplier News publication. This is that story:

Minneapolis – Target is calling its quits in Canada. The retailer said is closing down its troubled Target Canada business. The chain previously indicated it would review its Canadian subsidiary, which launched with great fanfare in March 2013, after the 2014 holiday season.

New York -- Target Corp. has received official approval from the Canadian goverment to shutter its troubled operations in Canada. The retailer said it has obtained an Initial Order from the Ontario Superior Court of Justice for creditor protection under the Companies' Creditors Arrangement Act.

The order allows Target Canada to proceed with a court-supervised wind-down of its business and authorizes the company to provide a debtor-in-possession credit facility of $175 million to finance its operations during the proceedings.

Overshadowed by Target’s bombshell announcement to exit Canada, the retailer said U.S. sales – and profits – were much better than expected during the holidays.

The favorable combination of increased traffic and stronger than expected digital sales enabled the company to produce a 3% same store sales increase during November and December versus an earlier forecast which called for 2% growth.