The New York Times reports that Target Corp. has fired Tony Fisher, president of the Target Canada division, just two weeks after the forced resignation of the company's CEO, Gregg Steinhafel.
The move was made one day before Target was to announce its Q1 financial results. It is know that Target lost $941 million in Canada alone last year.
The Times writes that "while the enormous security breach last year that exposed customer data may have attracted far more attention, the company’s bungled expansion into Canada, its first venture outside the United States, has also probably caused the retailer — and its high-ranking executives — extensive damage."
Target opened more than 100 stores in Canada "in a matter of months in 2013, a move some analysts questioned, and inventory problems made it difficult to keep merchandise on all those shelves," the Times writes. "Customers complained that prices were too high and some of the exclusive brands sold in America were not available to its northern neighbors."
Fisher is being replaced by Mark Schindele, the company's senior vice president for merchandising operations.
The move was made one day before Target was to announce its Q1 financial results. It is know that Target lost $941 million in Canada alone last year.
The Times writes that "while the enormous security breach last year that exposed customer data may have attracted far more attention, the company’s bungled expansion into Canada, its first venture outside the United States, has also probably caused the retailer — and its high-ranking executives — extensive damage."
Target opened more than 100 stores in Canada "in a matter of months in 2013, a move some analysts questioned, and inventory problems made it difficult to keep merchandise on all those shelves," the Times writes. "Customers complained that prices were too high and some of the exclusive brands sold in America were not available to its northern neighbors."
Fisher is being replaced by Mark Schindele, the company's senior vice president for merchandising operations.
- KC's View:
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Heads on pikes! That seems to be the attitude at Target these days … and I wonder if things will get better anytime soon.
