Tags: Target | Canada | sales | performance

Target Replaces Head of Troubled Canadian Operations

Tuesday, 20 May 2014 09:21 AM

Target Corp. replaced the head of its troubled Canadian operations on Tuesday, two weeks after ousting Chief Executive Officer and Chairman Gregg Steinhafel.

The retailer said Mark Schindele, currently the parent company's vice president of merchandising operations, would replace Tony Fisher as president of Target Canada, effective immediately.

"One of our key priorities is improving performance in Canada more rapidly, and we believe it is important to be aggressive," the company said in a release.

Target said Schindele had played an integral role in launching several new store formats, including PFresh, CityTarget and Target Express.

In Canada, Target is struggling after opening 124 stores last year in its first international venture.

Operational problems in some cases have resulted in empty shelves, and sales have been weaker than expected. In 2013, Target Canada lost $941 million before interest and taxes, on $1.3 billion in sales.

Target plans to report quarterly results on Wednesday. It said the timing of Tuesday's news is not related to the earnings report.

© 2017 Thomson/Reuters. All rights reserved.

 
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Target Corp. replaced the head of its troubled Canadian operations on Tuesday, two weeks after ousting Chief Executive Officer and Chairman Gregg Steinhafel.
Target, Canada, sales, performance
166
2014-21-20
Tuesday, 20 May 2014 09:21 AM
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