TARGET, the second largest retail chain in the US, is facing a consumer crisis, as its advantages have been lost in the marketing war with competing chains. Target based its strength on low prices for clothing and basic food products, both of which have recently been erased, with the strengthening of clothing companies such as H&M, and with the takeover of the consumer market segment by retail giant Wal-Mart, with significantly lower prices.
Target fired the manager of its Canadian division last week, two weeks after the Minneapolis regional manager resigned from his position.
One of the difficult problems facing the company is dealing with the slow recovery from the economic crisis, and opening the market to many more competitors by selling via the Internet.
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The company reported a decline in profits this year, for the first time in five years, and the company's shares fell by 10.51% this year.
Target is the second largest retailer in the United States. It was founded in 1902 in Minneapolis, Minnesota, and is currently publicly traded. The company currently has 1,916 stores, 127 of which are in Canada.
The company's revenue in 2013 was $72.6 billion, and net profit was $5.3 billion. The company is valued at about $48 billion, and it employs over 360,000 people.
