Target Corp. will close its store and CVS Pharmacy in Brooklyn Center on Feb. 2 as a result of an annual assessment of store performance.

The store’s 120 full- and part-time employees learned of the decision Monday and will be offered jobs at other stores or a severance package based on years of service, a Target spokeswoman said.

The Minneapolis-based retail chain announced it will shutter six stores in all: two in Chicago; one in the Milwaukee suburb of Greenfield, Wis.; one in Commack, N.Y.; and one in Cordova, Tenn., east of Memphis.

All have had “years of decreasing profitability” despite upgrades and investments, the company said.

“Our stores are a vital part of our business and future, so this decision is difficult,” Target spokeswoman Erin Conroy said. “We do this review on an annual basis. It helps keep our store portfolio healthy and ensure it’s always a small number.”

The company closed 13 stores earlier in February of this year and 12 the previous year. It closed six in 2016.

The Brooklyn Center store, at 6100 Shingle Creek Parkway, opened in 1986 and was remodeled in 2010 with enhanced beauty aisles and an upgraded apparel and accessories area.

Smaller than a SuperTarget at 120,000 square feet, it includes groceries and has a drive-up window, a feature the retail chain is adding to more stores to make online shopping and in-store pickup more convenient.

The store is a mile from a Walmart, and about 10 minutes from Target stores in Fridley and Crystal, which the company determined was close enough to serve customers now shopping in Brooklyn Center.

Target has 57 stores in the Twin Cities.

The retailer owns the land and the store and will be putting it on the market, Conroy said.

Target is in the midst of a $7 billion remodeling and modernization effort of its stores to adjust to consumers’ rising expectations of fast delivery on orders from its website or mobile app.

By the end of 2018, Target will have opened nearly 30 stores nationwide, including dozens of small-format stores which give the retailer flexibility to open in more densely populated urban areas.