The company’s new 10-year plan includes a big commitment to brick-and-mortar and it plans to build around 300 stores in the next ten years.
The discounter said it plans to build more stores as it looks to reach “new guests with a shopping experience that’s welcoming, convenient and fun, whether they’re shopping the aisles or using same-day services”. The news followed the release of the chain’s better-than-expected fourth quarter results.
Target also plans to invest to enhance the vast majority of its nearly 2,000 stores. The projects range from full remodels to adding Ulta Beauty in-store shops, upgrading fixtures, supporting same-day services and more.
In addition, Target will continue to enhance its supply chain operations for increased efficiency, speed and capacity through sortation centres and the use of artificial intelligence to drive improved inventory efficiency and forecasting across its network.
“By evolving and upgrading our experience, we’re going to make it even easier for our guests to interact with Target in a way that feels right for them,” Cara Sylvester, Chief Guest Experience Officer, said at the company’s investor event on Tuesday. “We’re confident with the relaunch of Target Circle that not only will our current guests shop us more often, but we’re well-positioned to welcome even more shoppers to Target.”
