Target CEO Gregg Steinhafel just lost his job.
While many have blamed the company’s massive data breach for his firing, Target Canada’s struggling operations could be a bigger factor, writes Brian Sozzi, chief equities strategist at Belus Capital Advisors.
Target opened more than 100 stores in Canada last year.
The discount chain’s expansion up north has been a bumpy one. Company executives admitted that inventory didn’t sell as quickly as they expected, which hurt profits.
Sozzi published photos of Target Canada last year that indicate why the business could be struggling.
His images portray understocked shelves and disorganized displays.
Date: May 8, 2014
Source: BusinessInsider