Target Is Closing 13 Money-Losing Stores

November 4, 2015, 7:46 PM UTC
Target Corp. to Abandon Canada After Racking Up Billions in Losses
Shoppers exit a Target Corp. store with their shopping carts n Toronto, Ontario, Canada, on Thursday, Jan. 15, 2015. Target Corp. will walk away from Canada less than two years after opening stores there, putting an end to a mismanaged expansion that racked up billions in losses. Photographer: Kevin Van Paassen/Bloomberg via Getty Images
Photograph by Kevin Van Paassen — Bloomberg via Getty Images

Target (TGT) is closing 13 of its stores because they are proving to be a drain on its financial results despite getting years to prove themselves.

The discount retailer, which typically announces store closings at this time year in anticipation of winding them down right after the holiday season, usually pulls the plug on a store if a given location has seen its profits shrink for several years, a Target spokesperson told Fortune by e-mail. The stores include locations in Minnesota and Wisconsin.

Target operates about 1,800 stores nationwide. The retailer has made it a top priority to improve the appearance of stores and the presentation of merchandise in those locations, something CEO Brian Cornell told his peers at an industry conference last week has proven to be a boon for its sales of home goods and apparel.

In August, the retailer reported a 2.4% increase in comparable sales for the second quarter, besting rivals like Walmart (WMT) and Macy’s [fortune-stocks symbol=”M”], so Cornell is clearly eager to ditch stores that aren’t carrying their weight.

Since taking the reins last year, Cornell has not hesitated to pull the plug on unprofitable parts of the business, most notably Target’s ill-fated, poorly executed expansion into Canada which cost the company $7 billion.

Earlier this year, Target announced a $2 billion, two-year cost savings plan that included the elimination of several thousand jobs in the Minneapolis area, where it is headquartered. It also announced it would pour $1 billion into its e-commerce as it looks to compete with Walmart and in particular.

Other retailers to have announced store closings this year include Macy’s, which said in September it would close 40 of nearly 800 stores, and J.C. Penney (JCP).