Target, once the darling of the retail industry, is witnessing a notable decline this year. This retail giant, known for its commitment to quality, style, and affordability, has faced various challenges that have impacted its market position. Their financial performance has taken a nosedive, with profits dropping dramatically over the past year. Recently, its management has decided that the best way to stay afloat is to downsize by closing some select stores. However, its woes began a long time ago. A quick look into history reminds us of the retailer facing a sort of identity crisis as far back as 2014.
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