TGT Target Corp

   By Stephen Nakrosis 
 

Target Corp. outlined a series of initiatives Tuesday it planned to undertake in 2020, including store remodelings and enhanced same-day service offerings.

Target said it was planning to remodel about 300 stores this year, and remains on track to have 1,000 store remodels completed by the end of 2020. The company said about 200 Target stores would feature a transformed electronics department, with an additional 200 following in 2021.

"The average sales lift of a remodeled Target store has been in the range of 2-4% in year one, with an average of more than 2% in the second year," the company said.

After introducing Drive Up and Order Pickup services in 2019, Target said, it will enhance those offering in 2020. Customers will be able to order grocery items, with tests beginning in the Minneapolis area this spring. The company said about half its stores will offer the expanded service by the holiday season.

Some Target stores in Florida and Oregon will also offer adult beverages through Order Pickup and Drive Up.

Target also plans to open about three dozen small-format stores, and will begin to explore sites for smaller locations in urban areas and college campuses.

Target also said it intends to enhance the speed and efficiency of its supply chain by "scaling robotics solutions that have been in development and testing across the country to replenish inventory to hundreds of stores by the summer of 2020."

Target also said it will open new warehouses near key markets in 2020.

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

March 03, 2020 13:02 ET (18:02 GMT)

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