Target Corporation (NYSE:TGT) is in the midst of a major transformation amid its exit from the Canadian market. Earlier this year, the company unveiled increased cost-cutting plans, including thousands of employee layoffs.
Target Corporation (NYSE:TGT) traded higher in the last at $81.5, gaining 0.97 points or 1.2%. From the data available, it can be said that the stock did not make an impact in the money flow department with the net figure coming to be $(-2.21) million.
Target Corporation (NYSE:TGT), A drop of 758,872 shares or 3.2% was seen in the short interest of Target. Even as the interest dropped from 23,354,917 shares on June 30,2015 to 22,596,045 shares on July 15,2015, the days to cover came in at 6.
Target Corp. (NYSE:TGT) is going both small and big with two new stores it has rolled out on the East Coast. The most intriguing of the concepts is the new City Target a block from Boston's Fenway Park.
Target Corporation (NYSE:TGT) has lost 5.29% during the past week and dropped 4.6% in the last 4 weeks. The shares are however, negative as compared to the S&P 500 for the past week with a loss of 3.15%.
It seems like Target Corporation (NYSE:TGT) is planning to bring about some major changes in its business. So far, the company has exited the Canadian market and, has also revealed a couple of cost-cutting and employee layoff plans.