In surprise move, Target exits Canada and takes $5.4 bln loss

Reuters - Target Corp will exit the Canadian market after less than two years in a surprise retreat that will throw more than 17,000 employees out of work and trigger a $5.4 billion quarterly loss.

Shares of the U.S. discount retailer, which was granted creditor protection for its money-losing Canadian subsidiary, at one point rose more than 4 percent on the move. The stock was up 2.2 percent at $75.94 in afternoon trade on the New York Stock Exchange.  Read more.