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Target to cut jobs

By FashionUnited

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Value chain and fast fashion giant Target Corp is to expected to cut nearly 150 jobs

as part of a restructuring plan.

Although the retailer declined to say which departments or business functions were affected, it said the changes will also result in shifts of roles and responsibilities in some areas.

"While making these kinds of changes is never easy, we are committed to advancing our multichannel capabilities and transforming Target to be competitive well into the future," it said in a statement.

In August, Target reported a double-digit Q2 profits dip to 611 million dollars, due to softer than expected sales in the US and start-up costs in Canada.

The company now expects its full-year adjusted earnings per share to be at the lower end of its previous forecast of 4.70-4.90 dollars.

Target continues its collaborations with high-end designers, and in the past offered limited edition collections by Proenza Schouler, Zac Posen and British designers Jonathan Saunders and Alice Temperley.

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Target