COLORADO SPRINGS, Colo. -

Target announced on Wednesday that it will close its store located in the 300 block of North Academy Boulevard in Colorado Springs.

The store will close on Feb. 2, 2013, Target said.  Target cites financial performance as the reason for closure.

All eligible store team members are being offered the option to transfer to nearby Target stores, Target said in a written release.

This Target location opened in 1969.