LONDON, UK / ACCESSWIRE / November 10, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Target Corp. (NYSE: TGT), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=TGT. The Company announced plans to close over 12 stores on February 03, 2018, the end of Target's 2017 fiscal year. The Company has indicated that "decreasing profitability," was the reason for shutting down of the identified stores. The news of Target closing its underperforming stores was first reported by The Minneapolis Star-Tribune on November 07, 2018. For immediate access to our complimentary reports, including today's coverage, register for free now at:

http://protraderdaily.com/register/

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on TGT. Go directly to your stock of interest and access today's free coverage at:

http://protraderdaily.com/optin/?symbol=TGT

Details of Store Closure

The 12 locations identified for the Target stores' closure include the following: Hastings, Minnesota, Fergus Falls, Minnesota, Harper Woods, Michigan (at the Eastland Mall), Hutchinson, Kansas, Benton Harbor, Michigan, Slidell, Louisiana, Launderhill, Florida, Matteson, Illinois, Romeoville, Illinois, Baltimore, Maryland (in the Mondawmin Mall) and San Antonio, Texas (Far East location). The Company has indicated that eligible Target employees are being given the option to transfer to other Target stores. Other employees will receive a severance package based on their years of service.

Target spokesperson clarified that the Company first explored all possibilities of improving store performance before taking the final decision to shut down. Responding to queries on the matter Target spokeswoman Kristy Welker replied:

"This decision was not made lightly. We have a rigorous process in place to evaluate the performance of every store on an annual basis, closing or relocating underperforming locations as needed. Typically, a store is closed as a result of seeing several years of decreasing profitability."

Decision in-line with Target's business strategy

The decision of store closure is in-line with the Company's strategy of focusing on stores that are profitable and closing down those that are not sustainable. The Company is planning to open 32 new stores in 2017 and 35 new stores in 2018. In October 2017, the Company had launched its first small-format store in Manhattan and planned to open 12 such stores across the country. The small-format stores are aimed at customers in the dense urban and suburban areas and on college campuses. The Company is investing more on technology and remodeling store design to enhance the customer experience. The Company has planned to remodel over 1,000 stores by FY20 and in the current year, it has already remodeled 110 stores. It is also adopting an aggressive digital strategy to cater to those customers who prefer to shop online. Additionally, it is also improving its distribution centers so that it can fulfill digital orders quickly and efficiently. Some of the services already launched by the Company include same-day delivery of in-store purchases, including fresh grocery in some stores. It is planning to launch its Restock program wherein customers can place orders for next-day essentials delivery service. This facility is available in 11 markets with plans of expanding to other markets soon.

Reducing footfalls and sales in the stores and increasing popularity of online shopping amongst customers has led to the closure of a number of retail chain stores across US. According to an industry estimate over 6,300 stores retail stores were shut down in 2017 till date. Some of the leading retailers who closed stores in 2017 include: RadioShack, JC Penney, Sears and Kmart, Macy's, Michael Kors, etc.

About Target

Minneapolis, Minnesota based Target is an upscale discount retailer that provides high-quality, on-trend merchandise at attractive prices in clean, spacious, and guest-friendly stores. It has over 1,828 stores and 39 distribution centers in US. The Company also sells online through its website - target.com.

Last Close Stock Review

On Thursday, November 09, 2017, the stock closed the trading session at $59.90, climbing 2.62% from its previous closing price of $58.37. A total volume of 8.49 million shares have exchanged hands, which was higher than the 3-month average volume of 6.60 million shares. Target's stock price advanced 1.27% in the last one month, 7.64% in the past three months, and 7.35% in the previous six months. The stock is trading at a PE ratio of 12.10 and has a dividend yield of 4.14%. The stock currently has a market cap of $32.96 billion.

Pro-Trader Daily:

Pro-Trader Daily (Pro-TD) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. PRO-TD has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles, and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

PRO-TD has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email contact@protraderdaily.com. Rohit Tuli, a CFA® charter-holder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by PRO-TD. PRO-TD is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

PRO-TD, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. PRO-TD, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, PRO-TD, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither PRO-TD nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://protraderdaily.com/disclaimer/.

CONTACT

For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

Email: contact@protraderdaily.com

Phone number: (917) 341.4653

Office Address: Mainzer Landstrasse 50 Frankfurt am Main, Germany 60325

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: Pro-Trader Daily