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Target Canada boss Tony Fisher speaks at a media tour of a new store in Guelph, Ont. After a dismal first year, Mr. Fisher lost his job and has been replaced by 15-year company veteran Mark Schindele.
Target Canada boss Tony Fisher speaks at a media tour of a new store in Guelph, Ont. After a dismal first year, Mr. Fisher lost his job and has been replaced by 15-year company veteran Mark Schindele.
(DAVE CHIDLEY/THE CANADIAN PRESS)

A Target miss, by pretty much every metric

If you doubted the need for Target Corp.’s shakeup of its Canadian operation and management team, the company’s latest financial results lay out the problems in cold, hard numbers.

The U.S. retailer, which launched in the Canadian market with great fanfare a little more than a year ago, reported Wednesday that its Canadian segment lost another $211-million (U.S.), before taxes, in its fiscal first quarter ended May 3. The Canadian operations have now lost nearly $1.2-billion in five quarters of operations.