Target Opens 12 New Stores Across the Country, Expands Plans for Remodels and Target Restock
October 19 2017 - 1:30PM
Business Wire
- Store openings this week include 11
small-format stores in New York, Chicago, Los Angeles, Philadelphia
and Minneapolis and a traditional store in Honolulu
- The number of store remodels will
increase to more than 1,000 by the end of 2020
- Target Restock will expand to guests
nationwide in 2018
- The retailer’s first Vermont location
is slated to open in South Burlington in fall 2018, bringing Target
to every state in America
- Same-day delivery, first tested at
Target’s Tribeca store in June, expands to the Herald Square,
Brooklyn Bensonhurst and Brooklyn Fulton Street stores on Oct.
20
- Throughout 2017, Target is allocating
millions of payroll hours for increased training and staffing at
its stores across the country
Target Corporation (NYSE: TGT) today unveiled the company’s
newest small-format store in Midtown Manhattan’s Herald Square, one
of 12 new stores opening across the country this week. Target also
announced today plans to accelerate the number of store remodels to
more than 1,000 by the end of 2020 and expand its Restock program
nationwide next year.
This press release features multimedia. View
the full release here:
http://www.businesswire.com/news/home/20171019006242/en/
Target opens new small-format store in
Herald Square (Photo: Business Wire)
Target is opening 32 new stores in 2017, with plans to open 35
new stores in 2018. The retailer’s more than 1,800 stores across
the country are approximately 10 miles or less from three-quarters
of all Americans, delivering a shopping experience that focuses on
ease and convenience, while creating capacity to support digital
growth by leveraging stores to fulfill online orders faster.
Additionally, Target is making meaningful investments in
differentiating its shopping experience by increasing store team
member staffing and training to deliver elevated service and
expertise.
“Target has made significant progress in our strategic
priorities since announcing a meaningful investment in our business
earlier this year. We’re elevating every aspect of how we serve our
guests, including reimagining hundreds of stores, opening new
small-format stores, introducing new and exclusive brands, pursuing
an aggressive digital strategy and transforming the way we
replenish our stores and get products to our guests,” said chairman
and CEO Brian Cornell. “As we open more small-format stores in new
neighborhoods across the country, we’ll be even closer to our
guests, and our reimagined stores will provide elevated inspiration
and ease, along with serving as hyperlocal distribution centers to
fulfill digital orders faster.”
Enhancing Store Experience and Investing in Store
Teams
Target is increasing its investment to reimagine more than 1,000
stores by the end of 2020, enhancing the guest experience with the
next generation of store design. In addition to the 110 stores
remodeled in 2017, Target plans to fully renovate more than 325 in
2018, 350 in 2019 and 325 in 2020. The reimagined stores will
feature Target’s most ambitious store redesign to date, featuring
modernized design elements, with an experience that’s easy and
inspiring for guests. The hundreds of remodels planned will be
customized, with guest feedback being applied to each new
remodel.
At its Financial Community Day meeting in February, the retailer
outlined a number of investments it is making to give guests even
more reasons to choose Target. One of those investments, which has
been accounted for in the retailer’s financial plans, is in its
store teams. Throughout 2017, Target is allocating millions of
payroll hours for increased training and staffing at its stores
across the country. This includes training for the 100,000 seasonal
team members Target plans to hire this year, as well as enhanced
training in key departments, such as Apparel, Beauty, Electronics
and Food and Beverage. In doing so, the retailer is building an
expert salesforce, with team members who specialize in one area of
the store and can provide credible guidance, product knowledge and
personalized service to guests, ultimately driving incremental
sales. These additional payroll hours also ensure that guests
experience quality service during peak periods of increased
traffic, such as weekends and the holiday season.
Continued Expansion of New Stores
Target’s new stores opening this week include 11 small-format
stores located in New York, Chicago, Los Angeles, Philadelphia and
Minneapolis, bringing Target’s total of small-format stores to 55.
The retailer is also opening a traditional store in Honolulu this
week.
Target is accelerating the pace of opening new small-format
stores to serve new guests in dense urban and suburban areas and on
college campuses. By the end of 2019, Target plans to operate more
than 130 small-format locations nationwide, including its first
Vermont location in South Burlington, slated to open in fall 2018.
Additionally, Target will expand its same-day delivery service in
New York City to three additional locations —Herald Square,
Brooklyn Bensonhurst and Brooklyn Fulton Street— in addition to
offering the service at its Tribeca location. Guests have the
option to have their in-store purchases delivered later that day
anywhere in Manhattan and to parts of Brooklyn and Queens in a
two-hour timeframe, for a small fee.
Target store openings this week include:
- New York: On Oct. 20, Target will open
a second Manhattan small-format store in New York’s iconic
Herald Square. Additional small-format stores opened in
Brooklyn’s Bensonhurst neighborhood and a location on Long
Island in Port Washington North.
- Los Angeles area: Two small-format
stores opened in LA, in Mission Hills and in the Glassell
Park neighborhood. Target’s second small-format store opened in
Orange County with the Orange East location.
- Chicago: Three more small-format stores
opened in the Chicago area, including Lakeview Ashland,
Oak Park and Skokie.
- Minneapolis Uptown: Target’s
third small-format store opened in the Twin Cities.
- Philadelphia Art Museum:
Target’s fourth small-format store opened in Philadelphia, with
plans for three additional locations to open in 2018 and 2019.
- Honolulu Ala Moana Center:
Target’s fourth store in Honolulu opened in the world’s largest
open-air shopping center.
Leveraging Technology and Digital Channels to Drive
Growth
Target continues to accelerate enhancements in stores and
digital to create a networked shopping experience, with stores,
digital channels and supply chain working together to meet guests’
needs. In 2018, Target will offer guests additional digital
fulfillment options by expanding Target Restock, introduced earlier
this year, to guests nationwide.
Target’s digital investments include:
- Same-Day Delivery: Allows for
same-day delivery of in-store purchases, including fresh grocery,
anywhere in Manhattan and to parts of Brooklyn and Queens. Same-day
delivery was first tested at the Tribeca store in June and will
expand to Target’s Herald Square, Brooklyn Bensonhurst and Brooklyn
Fulton Street stores on Oct. 20.
- Target Restock: Beginning later
this month, guests will have until 7 p.m. to place their Restock
order for next-day essentials delivery service currently available
in 11 markets, including Atlanta, Chicago, Dallas, Denver, Los
Angeles, Minneapolis, New York, Philadelphia, San Francisco, St.
Louis and Washington, D.C./Baltimore. Restock will expand to more
major markets early in 2018 and nationwide by the end of the
year.
- Drive Up: Earlier this year,
Target began testing a fulfillment option called Drive Up, a new
service through the Target app that enables guests to have their
digital orders brought out to their cars by a store team member.
Guests can shop via the Target app and access nearly 100,000
eligible items, including home furnishings, toys, electronics,
household essentials, non-perishable food and baby-care items.
After an initial pilot program this summer with headquarters team
members, the retailer started offering Drive Up to guests
throughout the Twin Cities area this month.
- Target + Google Express: Target
recently expanded its partnership with Google, including rolling
out Google Express service nationwide and using stores to deliver
items in just two days. Target will add new voice-activated
shopping features and plans to offer Target REDcard payment as an
option for guests in 2018.
- Pinterest Visual Search:
Target’s U.S. retail-exclusive partnership with Pinterest will
integrate the Pinterest Lens into Target’s registry and eventually
Target’s app, allowing guests a faster product search.
- Enhanced Team Member Technology:
This holiday, team members’ devices will be equipped to place
guests’ orders online right from the sales floor and have the
purchase shipped to their homes.
About Target
Minneapolis-based Target Corporation (NYSE: TGT) serves guests
at 1,828 stores and at Target.com. Since 1946, Target has given 5
percent of its profit to communities, which today equals millions
of dollars a week. For more information, visit
Target.com/Pressroom. For a behind-the-scenes look at Target, visit
Target.com/abullseyeview or follow @TargetNews on Twitter.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20171019006242/en/
TargetKristy Welker, 612-761-6025Public RelationsorTarget Media
Hotline, 612-696-3400
Target (NYSE:TGT)
Historical Stock Chart
From Apr 2024 to May 2024
Target (NYSE:TGT)
Historical Stock Chart
From May 2023 to May 2024