The discount chain will open more than 30 new stores this year, including its 2,000th location in Fuquay-Varina, North Carolina, along with more than 130 store remodels.
The Target Corporation’s long-term investment plan will add more than 300 new stores by 2035.
“Guests tell us all the time they want a Target closer to home and this investment helps us do exactly that,” said Adrienne Costanzo, Chief Stores Officer at Target. “That means even more neighbourhoods will get the full Target experience: trend-forward style and value, technology that makes the trip effortless and awesome teams who deliver easy, inspiring and friendly moments every single day.”
Last week, Target detailed its turnaround strategy at its investor day presentation in Minneapolis. Among other things, the retailer is increasing its capital expenditures for its current fiscal year by 25 per cent to about $5bn to support new stores and ongoing remodels, technology and supply chain investments. It is also planning to make an incremental $1bn operating investment tin 2026 to deliver a more consistent, elevated experience.
The retailer says its 2,000th location in Fuquay-Varina is Target’s latest food-forward prototype, with a food and beverage department that is 30 per cent larger than the chain average, offering an extensive selection of private and national brands. The store will also feature same-day services including Drive Up with 24 pickup lanes, Order Pickup and same-day delivery, along with next-day delivery options throughout the Raleigh market.
The Fuquay-Varina store will be Target’s 55th store in North Carolina, where the retailer also operates a regional distribution centre and has had a presence since 1995.
