Target closing 12 underperforming stores
In a move toward growth, Target has decided to close stores, and a dozen of them at that. The Minneapolis-based Star Tribune first reported on the news Tuesday afternoon. "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," a spokeswoman for the big-box retailer told CNBC. "Typically, a store is closed as a result of seeing several years of decreasing profitability," she added. The 12 stores — spread across states including Michigan, Florida, Illinois and Texas — will close on Feb. 3 of next year. Click Read More below for additional information.