Minneapolis — Target Corporation has unveiled its multi-year strategy under CEO Michael Fiddelke to accelerate its return to growth. The strategy includes plans to open more than 30 new stores, refresh the store experience across the chain, and invest in store payroll and training to elevate the guest experience.
“This new chapter of growth at Target is defined by clear choices and rooted in a deeper understanding of our unique lane in retail, the guests we serve and the areas where we’re distinctly positioned to win,” says Fiddelke. “This work is underway, and by putting style, design and value at the center of every decision.”
In 2026, Target is planning to make an incremental $1 billion operating investment to deliver a more consistent, elevated experience for guests. This includes:
• More changes within all stores than any year in the last decade, including updated floor plans and enhanced in-store displays across the chain to spotlight top items, new styles and key partnerships.
• Hundreds of millions of dollars in additional store payroll and training in 2026. The investment is designed to drive greater consistency and help teams deliver an in-store experience centered on being delightful, inspiring and easy.
• Increasing spend on brand marketing and new technology, including AI.
Target also plans to increase its capital investment plans by more than $1 billion in 2026 — for a total of approximately $5 billion — to support new stores and ongoing remodels, technology and supply chain investments. The retailer expects to open more than 30 new stores this year as part of its path to 300 new stores by 2035, while investing in over 130 planned full-store remodels. Later in March, Target will mark a key milestone with the opening of its 2,000th store in Fuquay-Varina, N.C.
Also in 2026, Target will refresh the home experience with new items and improved in-store displays. This includes relaunching flagship owned-brand Threshold this summer, plus shop-in-shops in 200 stores that highlight seasonal looks and on-trend décor.
In the beauty category, Target intends to offer more premium and emerging brands, update presentation and pilot an enhanced service model. Later this year, the retailer plans to introduce Target Beauty Studio, an immersive destination that pairs specialty-level presentation and service with Target’s signature accessibility to further strengthen its beauty authority.
Target will continue accelerating technology and AI to create an even more personalized shopping experience. It will also enhance speed and efficiency across its leading suite of same-day fulfillment services, which already account for two-thirds of the retailer’s digital sales. In addition, Target will meaningfully expand the reach of its next-day brown box delivery capabilities with the addition of 20 new metro areas this spring.
Minneapolis-based Target Corporation has nearly 2,000 stores.
SOURCE: Target Corporation