Target closing 13 stores in U.S. citing falling profits

Target plans to close 13 stores nationwide, including one in New Ulm and two others in Milwaukee and Superior, Wis.

The Minneapolis-based retailer says a decision to close a store usually follows several years of decreasing profitability. The retail giant plans to close the stores on Jan. 30, 2016. The 13 are among Target's nearly 1,800 stores in the U.S.

Target was hurt by a massive credit-card breach before Christmas 2013 that sent shoppers temporarily fleeing. The company also botched a major expansion into Canada and pulled the plug on that earlier this year.

Layoffs in 2015 included 2,500 jobs, or about one-fifth of the workers in the company's corporate offices in Minneapolis and Brooklyn Park.