Minneapolis — Target Corporation plans to continue to invest in its guest experience and long term growth through various strategies, including through the building of more than 300 new stores and enhancing and/or remodeling existing locations.
“For years, Target has consistently built for the long term, investing in the assets, capabilities and team that have differentiated our business, enabled us to deliver for guests in any environment and driven strong growth,” says Brian Cornell, chair and CEO, Target. “Today, with that same long-term view, we’re making strategic investments that expand on our core strengths, further elevate our guest experience and deepen our connection to both current and new guests. Most importantly, these plans provide fuel for our next era of growth.”
During the next decade, Target will continue investing in its stores-as-hubs model with plans to:
• Build more than 300 new stores to reach new guests with a shopping experience that’s welcoming, convenient and fun.
• Invest to enhance the vast majority of its nearly 2,000 stores, with projects ranging from full remodels to adding Ulta Beauty locations, upgrading fixtures, supporting same-day services and more.
• Continue enhancing supply chain operations for increased efficiency, speed and capacity, including next-day delivery through sortation centers, and using artificial intelligence to drive improved inventory efficiency and forecasting across its network.
Minneapolis-based Target Corporation operates nearly 2,000 stores. For more information, visit www.corporate.target.com.