MinnEcon Blog

Target solved its payment security issues, but couldn’t solve Canada

Among the bragging rights ousted Target CEO Gregg Steinhafel might want to update on his resume as he begins his job search: Target "is leading the way in upgrading payment security for consumers," according to MarketWatch.

The bigger problem for Steinhafel? Blame Canada, or at least the Target venture north.

Here's one of a series of photos Belus Capital Advisors' Brian Sozzi published in January of barren Target shelves in Canada.

Canadian Target
The empty shelves of Target in Canada Brian Zozzi/Belus Capital Advisors

"One almost is overcome with this creepy feeling (at least we are given our close tracking of the situation) that Target will go the way of many U.S. brands that ventured into Canadian retailing…extinct," Sozzi wrote in January.

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