RSS
Twitter
Facebook
YouTube
Think we can convince them to build one Downtown?
--
Target Considering Smaller Stores to Expand in CitiesNov. 18 (Bloomberg) -- Target Corp., the second-largest U.S. discount chain, is considering opening smaller-format stores to expand in cities.
The company is researching the option, Chairman and Chief Executive Officer Gregg Steinhafel said yesterday in an interview at Target’s Minneapolis headquarters, adding that the retailer has no definitive plans or sites for such stores.
“We know that consumers in dense urban areas love Target,†Steinhafel said. “We have to work harder at trying to get a smaller Target in those areas.â€Â
Target plans to open more U.S. stores in metropolitan areas as well as remodel existing locations to add groceries and encourage more frequent visits. On its earnings call yesterday, the company said it’s planning for a “modest†decrease in fourth-quarter sales at stores open at least a year as shoppers continue to pare discretionary spending.
Launched in August 2010, TheMetropreneur.com is a local online resource devoted to small business development and entrepreneurship. Its aim is to tell the stories of Central Ohio's business community, foster regional economic development and assist entrepreneurs with its resource-heavy focus.