When Target Corp. opened TargetExpress in Dinkytown last year the company had 133 operational Target stores in Canada, but as of Jan. 15, Target corp. said it will close all Canadian locations, according to the Minneapolis/St. Paul Business Journal.
With Target Corps. closure in Canada comes the end of the company’s first international trial run and speculation that Target will refocus on the American market, according to the Star Tribune.
According to the Star Tribune, the Minnesota-based company’s CEO, Brian Cornell, said that the refocus will have a lot to do with growing the company’s TargetExpress and CityTarget business models, a format that the company initially tested in the University of Minnesota’s backyard.
While Target’s Canadian closure marks a dramatic change in the company’s direction, it’s stock prices haven’t changed dramatically, according to Market Watch. From opening bell on Jan. 15 to closing bell on Jan. 16, the companies stock price has only fallen $2.26 a share.