Retail darling Target unveils “large-format” stores for future expansion
🎯 Retail darling Target unveils “large-format” stores for future expansion.
The retailer will be focusing on these 150,000 square feet stores - about 20,000 square feet larger than its current average - over the coming years with new constructions and remodels. This larger format displays the company’s focus on expansion past its previous focus on urban areas for younger shoppers. By increasing square footage, the company will also increase the store’s ability to fulfill same-day orders for its customers.
Target is closing nine stores in California, Oregon, New York, and Washington due to increasing thefts and organized retail crime that have put the safety of employees and customers at risk.
Target has opened its first extension facility in Smyrna, Georgia, allowing the retailer to reach an additional 500,000 customers for next-day delivery in the Atlanta area.
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No need to get out of your car to return that candle of wicker basket you impulsively bought on your latest Target run.
The massive logistics overhaul is focusing on the company’s sortation hubs and the store’s redesign, meant to increase same-day fulfillment services.
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The retailer will be focusing on these 150,000 square feet stores - about 20,000 square feet larger than its current average - over the coming years with new constructions and remodels.
Retailers are struggling with excess inventory and rushing to get it off the shelves before the holiday season.
Target & Walmart reported earnings this week and cited inflation as the primary reason for rapidly increasing costs.
Regardless of Wall Street’s bet on the retail company, Target revealed a 52% profit decline in Q1.
In response to pushback from conservative activists, Target has decided to limit the in-store availability of its Pride Month Collection to roughly half of its 2,000 stores.