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Target’s Canada exit to free up cash for U.S. growth

Target‘s plan to liquidate all 133 stores in Canada through bankruptcy will be costly upfront, but eventually it will allow the retailer to invest in opening more smaller-format urban stores and remodeling existing big boxes. Target has set up a $70 million trust fund to ensure the 17,500 laid-off Canadian workers receive severance. Read the CNBC story here

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