Target Shares Edge Lower As Company's Canadian President Is Replaced

Target TGT shares are trading down as much as 1.61 percent ($57.36) Tuesday morning, in reaction to the news that the company has fired the president of Canadian operations.

Target Canada President Tony Fisher will be replaced by Senior Vice President of Merchandising Mark Schindele, effective immediately. Target Canada was the first expansion outside of the US and was launched last year, but has been struggling with weak sales and losses.

Schindele will report to Target Chief of Merchandising and Supply Chain Officer Kathee Tesija, who oversees Canadian operations as well.

In light of the data breach and the lackluster performance of Target Canada, the company is trying to fix its problems. First quarter earnings come out Wednesday, with all eyes watching to see how the company has been performing in spite of all the events that have happened.