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Elon Musk on MacKenzie Scott giving away $26 billion of her fortune: 'Sadly,' it makes the world a worse place

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MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

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Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster

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Elon Musk on MacKenzie Scott giving away $26 billion of her fortune: 'Sadly,' it makes the world a worse place

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MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

3

Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster
RetailTarget

Target Will Close Its Remaining Portrait Studios

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Mahita Gajanan
Mahita Gajanan
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By
Mahita Gajanan
Mahita Gajanan
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January 11, 2017, 6:14 PM ET
Inside A Target Corp. Location Ahead of Earnings Figures
Target Corp. signage is seen on a shopping cart and the exterior of a company store in Chicago, Illinois, U.S., on Monday, May 16, 2016. Bloomberg Bloomberg via Getty Images
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This story has been updated.

Target will close its remaining Portrait Studios, a spokesman for Lifetouch, the Minnesota-based company that operates the studios confirmed to Fortune.

The retailer closed 7 of its Portrait Studios last July, citing re-model plans to allocate the spaces differently. The 138 remaining studios will close by Jan. 28, Lifetouch spokesman Kelvin Miller said.

Miller said Target had notified the company that a significant number of studios may close in 2017 because the operation “would no longer be profitable.”

Target opened the portrait studios in 1996, initially as a way to drive traffic to the store. However, as digital photography has increased in popularity, professional photo studios have struggled.

Target confirmed that the Portrait Studios will close by Jan. 28.

Correction: This story originally stated 145 Portrait Studios closed in July, 2015. Instead 7 studios closed at that time.

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