As Target accelerates its plans to open smaller format stores, the retailer is closing 12 big-box underperforming locations.
According to a report in the Minneapolis Star-Tribune, the company has notified employees at the 12 stores of the closures, which are expected to be complete by February 3. The stores are located in Michigan, Kansas, Georgia, Louisiana, Florida, Illinois, Maryland and Texas.
A Target spokesperson told the Star-Tribune that the retailer chooses to close a location after going through a “rigorous process” and after seeing several years of decreasing profitability.
News of the store closures comes just weeks after Target opened a new small format location in midtown Manhattan’s Herald Square, one of 12 new stores debuting in metro New York, Philadelphia, Chicago, Minneapolis and Los Angeles.
The new stores will bring the total small format locations operating across the Target portfolio to 55. The retailer plans have more than 130 small format locations nationwide by the end of 2019. The small store expansion will generate Target’s first Vermont location in South Burlington, slated to open in fall 2018. The retailer will open a total of 32 new stores in 2017 and intends to open 35 more in 2018.