Welcome to Dividend.com. Please help us personalize your experience.

Select the one that best describes you

Thank you!

Check your email and confirm your subscription to complete your personalized experience.

Thank you for your submission, we hope you enjoy your experience


Pricing
Go Premium Now
Login
Best Dividend Stocks
Ex-Dividend Dates
High Yield Stocks
Strategies
Tools
Articles
Premium
Advisors
Guaranteed Income

Target store front

News

Target Corporation to Exit Canada; Boosts Outlook (TGT)

Shauna O'Brien Jan 15, 2015


On Thursday morning, retail giant Target Corporation (TGT ) announced that it plans to discontinue operations in Canada.


Target announced that it now plans to discontinue operating stores in Canada through its indirect subsidiary, Target Canada Co. Target Canada currently operates 133 stores across Canada. TGT reported that it expects to see $5.4 billion in pre-tax losses on discontinued operations during the fourth quarter.

Target’s CEO Brian Cornell commented: “After a thorough review of our Canadian performance and careful consideration of the implications of all options, we were unable to find a realistic scenario that would get Target Canada to profitability until at least 2021. Personally, this was a very difficult decision, but it was the right decision for our company.”

Outlook
The company now expects fourth quarter comparable store sales to rise 3%. Previously, the company expected to see a 2% rise in comps. For the fourth quarter, the company expects to see EPS between $1.43 and $1.47.

TGT Dividend Snapshot

As of market close on January 14, 2015


TGT dividend yield annual payout payout ratio dividend growth


Click here to see the complete history of TGT dividends.

Target shares were up $2.94, or 4.00% during pre-market trading Thursday.


The Bottom Line


Target Corporation (TGT ) is recommended at this time, holding a Dividend.com DARS™ Rating of 3.5 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

Popular Articles