At two separate Target locations, I've noticed that they are heavily discounting some of their colognes and perfumes -- even the higher-end brands. This leads me to believe that they're either shrinking their fragrance selection or perhaps eliminating it altogether. Of course, YMMV (as with all Target clearance deals), but here are some examples of some deals I found (with many more that I didn't include):
Polo Black: $29 (originally $58)
Polo Red: $29 (originally $58)
Acqua di Gio: $32.50 (originally $65)
Gucci Guilty Black: $27.48 (originally $54.99)
Juicy Couture: $11.84 (originally $39.49)
Feel free to include any others that you find; again, I was pressed for time and these are the only ones I made note of, but there were many more (but not all were on clearance). These were in the regular fragrance area, NOT on a clearance end-cap.