Target released a statement Tuesday July 18, 2017 that within the next 6 months all doors across the nation will be closing. The reason for the companies downfall deals with a lot of issues that have happened over the past few years. In 2013 over 50% of red card holders (target credit cards) had their information stolen. Target was held responsible for this and had to pay back 52 million in damages. In 2015 target was in the news again but this time for a bathroom policy that allowed transgenders to use the gender assigned stalls they identified with. Just this year target reported an all time low on their annual profits. “Black Friday wasn’t enough to get us through the holidays” said Connell, and many who specialize in retail chain sells say they’ve seen this coming for a while.
Maggie White, a retail specialist, said she felt the company was going down hill when she first worked with the company in 2009.
It’s unclear at this moment when stores will start packing up and going clearance but it should be soon.
So long TARGET, guess it’s Wal-Mart from now on.