Target & Sony Close Canadian Stores; Dow Falls 100 Points

The Dow falls an additional 100 points today while the Nasdaq closes down 1.5% as falling oil prices continue to rattle investors. Iconic U.S. stores and brands just don't seem to be performing as well in Canada. Target (TGT) announced today that they will be pulling out of Canada after losing over $2 billion while Sony is shuttering all 14 of its Canadian stores. Multiple reasons lead to the demise of Target in Canada, but one main reason was due to the tough competition from Walmart (WMT), which has been a staple in Canada for the past 2 decades.

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Published on Jan 15, 2015
By InvestorGuide Staff

Copyrighted 2016. Content published with author's permission.

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