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TARGET-CANADA/
RTR4OUC2
9 Feb. 2015
A Canadian flag flies on a vehicle parked outside a... more
TARGET-CANADA/
RTR4OUC2
9 Feb. 2015
Hamilton, Canada
A Canadian flag flies on a vehicle parked outside a Target store in Hamilton, January 15, 2015. Target Corp will abandon its ill-fated expansion into Canada less than two years after launch, the U.S. discount retailer said on Thursday, in a surprise retreat that will put more than 17,000 employees out of work and cost it billions. The company is shutting all of its 133 Canadian stores and said it expects to report about $5.4 billion in pre-tax losses for its fourth quarter, which finishes at the end of January. Losses are mostly due to the writedown of the Canadian investment, along with exit costs and operating losses. REUTERS/Peter Power (CANADA - Tags: BUSINESS EMPLOYMENT)
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