The company earned 98 cents a share, with adjusted earnings of $1.10 a share. Analysts expected $1.03 a share, according to Thomson Reuters.
Wal-Mart Stores Inc. said it would acquire more retail and distribution space in Canada from Target Corp.
Target Canada Co. says its headquarters and three distribution centers have shut down and the liquidation and closing of its 133 stores will be finished on April 12.
Target’s change of heart could be blamed on a number of factors, including public pressure, bad press about its massive layoffs and a competitive job market.
Target is launching a limited edition collection of American-made men’s apparel and accessories next week from six small brands.
Target announced some impressive growth plans but it’s the “several thousand” job cuts that are getting all the attention.
Target CEO Brian Cornell told investors that the retailer won’t be raising its minimum wage to $9 like its competitors, Walmart and TJX Companies.