Target ends its Canada misadventure

Most RetailWire panelists were surprised last month at the Target annoucement that it is pulling out of Canada…less than two years after opening. I commented that the speed of the decision is a refreshing return to form for Target:

There are well-documented execution issues—pricing, supply chain management and so forth—that don’t need to be rehashed at this point. The biggest takeaway is the speed with which Mr. Cornell pulled the plug on the misfire. Where Target used to be known for a culture of “Speed is Life,” this was replaced over time by a more cautious approach to the business. It’s arguable that the size of the investment deserved more time for a turnaround, but the prospects were so dim (no profit until 2021) that Mr. Cornell’s decision represents a wake-up call to his own organization and to the investor community.

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