Tue, Feb 25, 2014 6:32 PM EST 1:24
Brian Sozzi of Belus Capital Advisors has a wake-up call for investors: Target is failing in Canada. The big-box retailer entered Canada with all sorts of bravado, saying it could do to retailing there as it has done in the U.S. However, Target incurred over $600 million in operating losses in 2013. Target continues to sell the hope to investors on its Canadian potential by saying it's fixing problems such as persistent out-of-stocks and poor price perception. However, Sozzi's sources on the ground in Canada have told him a disturbing series of accounts and continue to send him pictures that paint the business in the most unflattering of ways.