Stores Closing: 4
Business’ Current Value: $60.87 billion*
Though everyone (or, at least, almost everyone) loves Target, the “upscale-version-of-Walmart” retailer is not immune to closures. 2023 brought with it the announcement that Target would close four branches, all of which would close in major cities.
Target is shutting down two stores near Washington D.C., one in Minneapolis, Minnesota (its hometown), and the last in Philadelphia, Pennsylvania. No additional closures will take place this year, and, in fact, Target is going to open twenty new stores, representing a net gain of sixteen.