Target CEO answers questions about Canadian exit

Uses company blog as a platform to answer need-to-know queries
1/16/2015

After Target announced its decision to pull out of Canada, CEO Brian Cornell answered questions regarding the retailer's exit.

Cornell used Target's blog A Bullseye View to share more about his decision.

On the blog, Cornell was asked whether the decision to close all 133 stores in Canada was an indicator of financial problems Target is having stateside. He was also asked whether, given more time, Target's Canadian division might have engineered a turnaround. The answer to both, to make a long story short, was "no".

Cornell said Target Corporation is in a healthy financial position. But after "rigorous analysis" of the Canadian operation, it couldn't find a "realistic scenario that got Target Canada to profitability until at least 2021."

"The losses were just too great," he said.

Read the full Q&A here.

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