Target may be offering more than just Black Friday deals this holiday season, with going out of business sales a possibility at least 11 stores nationwide. The Huffington Post states that Target plans to permanently close 11 stores just six months after the company closed down eight other locations.
Target’s annual report states that the retailer opened “19 new U.S. stores” in 2013. That’s the total number of stores which will be closed by early next year. With eight stores shuttered in 2014 and 11 more expected to close by February 2015, it’s apparent that last year’s data breach had a negative effect on the retail store’s sales.
The cyber attack is not mentioned in the email that Target sent the Minneapolis Star Tribune, but the company does attribute the closings to “years of decreasing profitability” at select locations.
The 2014 Target Black Friday ad has yet to be leaked, and the company has not issued any notice about special sales for the stores that will be closing. However, there are a number of pre-holiday deals happening weeks before the biggest shopping day of the year, including free shipping on just about everything purchased online and daily toy deals for those who use Target’s Cartwheel app.
There is some good news amidst the news that Target is closing 11 more stores. The company will offer all “eligible store team members” the option to transfer to stores that will remain open. There are almost 1,800 stores that will remain open nationwide.
“The decision to close a Target store is only made after careful consideration of the long-term financial performance of a particular location. All eligible store team members are being offered the option to transfer to other Target stores.”
Which stores will be closing in February? Target’s press release states that 11 stores in Georgia, Indiana, Michigan, Iowa, Kansas, Illionois, Minnesota, and Texas will close by February 2015.