TARGET Corp. announced plans to add 20 brand new stores and renovate 175 existing ones this year as part of its efforts to offer a differentiated shopping experience. Overall, Target plans to invest $4 to $5 billion this year to expand its guest-centric services, operations network of stores and supply chain facilities, digital experiences and other capabilities.
The retailer also shared more about its plans to advance its enterprise efficiency efforts, aimed at optimizing its operations after years of rapid growth.
THE company’s strategic plan is to propel their market share and profit growth over time. They are looking to scale their business with greater simplicity and to meet the evolving needs of the guests and deliver value for the shareholders.
TARGET will be adding many more items in the $3-$15 ranges aimed at value conscious consumers. Additionally, many of the new stores will include new design elements aimed at reflecting their local communities as well as introduce sustainable features.
THE retailer is also making investments in about 175 of its 2000 stores ranging from full remodels to the addition of Ulta Beauty at Target or shop-in-shops
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