Target plans to shutter underperforming urban location – see which ‘small format’ stores remain

TARGET has announced a shocking closure in the same city where the retailer is headquartered.

The small-format store located in Minneapolis, Minnesota, will close due to lack of foot traffic, a spokesperson said Monday.

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Target officials said that the location between West Lake Street and Lagoon Avenue on S Fremont Avenue will shutter on May 13.

“The decision to close one of our stores isn’t something we take lightly,” Target spokesperson Joshua Thomas told the StarTribune.

“It’s an action we take only after multiple years of working to improve performance.

“That is the case for our Uptown store.”

According to the retailer, the team members will be offered employment opportunities at nearby locations.

The store employed about 45 part-time and full-time workers.

This is the fourth location that has been shuttered so far this year.

The other locations were in Washington D.C. and Philadelphia.

However, Target fans shouldn’t be worried as the retailer plans to open 20 new locations this year.

Retailers have been hard hit by inflation, as product costs meet record highs and customer demand falls low.

Around 40 percent of the nation’s department stores have closed since 2016.

Just last year alone, over 60 major retailers filed for bankruptcy including Brooks Brothers, J. Crew, Sears, Lucky Brand, Forever 21, and Circuit City.

Walmart has almost 5,000 stores across the country, but the company admitted that some have failed to meet “financial expectations,” local CBS affiliate in Chicago WBBM reported.

The store in Pinellas Park, Florida, will close for good on Friday, March 17.

On the same day, the pharmacy in Walmart’s Washington, DC  store located on H Street will close.

It means people who have regular prescription medications are going to have to find a new pharmacy to get their supplies.

The rest of the store will close two weeks later on March 31.

Operating in 18 states, Piggly Wiggly is a grocery store with a large presence in the South and Midwest.

Unfortunately, it’s also become the latest victim of the retail apocalypse and will be shutting a store down in Milwaukee, Wisconsin.

No specific date has been provided yet but the company’s senior director said in an email that “employee separations” are expected to begin during the 14-day period commencing on Saturday, March 18, 2023.

There will be a string of CVS closings throughout the month of March, including some next week.

“We consider many factors when making store closure decisions including maintaining access to pharmacy services, local market dynamics, population shifts, a community’s store density, and ensuring there are other geographic access points to meet the needs of the community,” the store said, as reported by local Fox affiliate WDAF-TV.

A CVS in Tallahassee, Florida, will have its last day on Thursday, March 16.

See the full list of store closures occurring in 2023.

Aldi will also be closing some locations this year but will open five new ones.