Throwback Thursday: Ten years ago, Target was halfway through its failed Canadian experiment

Throwback Thursday is a regular weekly feature in which we dip into the Hardlines Weekly Report archives.

“Target’s poor performance good for shoppers,” read the headline of a story in our Jan. 20, 2014, weekly Hardlines e-newsletter.

The “good for shoppers” idea had been the idea of Toronto Life magazine, which in an article predicted that Target would have to lower prices to stem its red ink. (We realize, quoting Toronto Life on retail strategy is not exactly MBA-level brilliance.—Editor)

Target Canada, which had opened its first store in this country in March 2013, had just posted a 2014 fourth quarter loss of 45 cents per share. Eventually, the company’s failed Canadian experiment would rack up $2.5 billion in losses before Target shuttered its 133 Canadian stores in April 2015.