TORONTO — Target’s Canadian stores now expect to post a Q4 loss of about 45 cents per share, almost doubling its previous guidance of a 22 to 32 cent loss. The revision comes on the heels of a difficult holiday season, which saw much of eastern Canada blanketed by a severe ice storm. Deep discounts offered to move merchandise into the hands of reluctant Canadian shoppers also took a bite out of profits, and the Target brand was damaged by a credit card data breach, even though Canadian stores operate on their own point-of-sale system and were unaffected. “Profitability for the chain [in Canada] is years away,” Rob Wilson, president of Tiburon Research Group in San Francisco, tells Report on Business in The Globe and Mail.
Target cuts Q4 expectations
Most Recent
Most Read
IKEA Canada to open fifth Plan and order point
Fri, April 25th, 2025
Canadian economy forecast to contract
Fri, April 25th, 2025
Diane Brisebois receives RCC Hall of Fame nod
Fri, April 25th, 2025
RONA launches new private label
Thu, April 24th, 2025
Throwback Thursday: 25 years ago, Winroc continued its U.S. expansion
Thu, April 24th, 2025
Canac launches in-house potato chip line
Thu, April 24th, 2025
AD Canada welcomes Greater Toronto member
Thu, April 24th, 2025
New RONA Moncton store opens
Thu, April 24th, 2025
MEC finds Canadian buyer
Wed, April 23rd, 2025
NOW LIVE: Hardlines podcast featuring Turkstra Lumber CEO Peter Turkstra
Wed, April 23rd, 2025