Target Corporation (NYSE: TGT) today unveiled
the company’s newest small-format store in Midtown Manhattan’s Herald
Square, one of 12 new stores opening across the country this week.
Target also announced today plans to accelerate the number of store
remodels to more than 1,000 by the end of 2020 and expand its Restock
program nationwide next year.
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Target opens new small-format store in Herald Square (Photo: Business Wire)
Target is opening 32 new stores in 2017, with plans to open 35 new
stores in 2018. The retailer’s more than 1,800 stores across the country
are approximately 10 miles or less from three-quarters of all Americans,
delivering a shopping experience that focuses on ease and convenience,
while creating capacity to support digital growth by leveraging stores
to fulfill online orders faster. Additionally, Target is making
meaningful investments in differentiating its shopping experience by
increasing store team member staffing and training to deliver elevated
service and expertise.
“Target has made significant progress in our strategic priorities since
announcing a meaningful investment in our business earlier this year.
We’re elevating every aspect of how we serve our guests, including
reimagining hundreds of stores, opening new small-format stores,
introducing new and exclusive brands, pursuing an aggressive digital
strategy and transforming the way we replenish our stores and get
products to our guests,” said chairman and CEO Brian Cornell. “As we
open more small-format stores in new neighborhoods across the country,
we’ll be even closer to our guests, and our reimagined stores will
provide elevated inspiration and ease, along with serving as hyperlocal
distribution centers to fulfill digital orders faster.”
Enhancing Store Experience and Investing in Store Teams
Target is increasing its investment to reimagine more than 1,000 stores
by the end of 2020, enhancing the guest experience with the next
generation of store design. In addition to the 110 stores remodeled
in 2017, Target plans to fully renovate more than 325 in 2018, 350 in
2019 and 325 in 2020. The reimagined stores will feature Target’s most
ambitious store redesign to date, featuring modernized
design elements, with an experience that’s easy and inspiring for
guests. The hundreds of remodels planned will be customized, with guest
feedback being applied to each new remodel.
At its Financial Community Day meeting in February, the retailer
outlined a number of investments it is making to give guests even more
reasons to choose Target. One of those investments, which has been
accounted for in the retailer’s financial plans, is in its store teams.
Throughout 2017, Target is allocating millions of payroll hours for
increased training and staffing at its stores across the country. This
includes training for the 100,000
seasonal team members Target plans to hire this year, as well as
enhanced training in key departments, such as Apparel, Beauty,
Electronics and Food and Beverage. In doing so, the retailer is building
an expert salesforce, with team members who specialize in one area of
the store and can provide credible guidance, product knowledge and
personalized service to guests, ultimately driving incremental sales.
These additional payroll hours also ensure that guests experience
quality service during peak periods of increased traffic, such as
weekends and the holiday season.
Continued Expansion of New Stores
Target’s new stores opening this week include 11 small-format stores
located in New York, Chicago, Los Angeles, Philadelphia and Minneapolis,
bringing Target’s total of small-format stores to 55. The retailer is
also opening a traditional store in Honolulu this week.
Target is accelerating the pace of opening new small-format stores to
serve new guests in dense urban and suburban areas and on college
campuses. By the end of 2019, Target plans to operate more than 130
small-format locations nationwide, including its first Vermont location
in South Burlington, slated to open in fall 2018. Additionally, Target
will expand its same-day delivery service in New York City to three
additional locations —Herald Square, Brooklyn Bensonhurst and Brooklyn
Fulton Street— in addition to offering the service at its Tribeca
location. Guests have the option to have their in-store purchases
delivered later that day anywhere in Manhattan and to parts of Brooklyn
and Queens in a two-hour timeframe, for a small fee.
Target store openings this week include:
New York: On Oct. 20, Target will open a second Manhattan small-format
store in New York’s iconic Herald Square. Additional
small-format stores opened in Brooklyn’s Bensonhurst
neighborhood and a location on Long Island in Port Washington North.
Los Angeles area: Two small-format stores opened in LA, in Mission
Hills and in the Glassell Park neighborhood. Target’s
second small-format store opened in Orange County with the Orange
Chicago: Three more small-format stores opened in the Chicago area,
including Lakeview Ashland, Oak Park and Skokie.
Minneapolis Uptown: Target’s third small-format store opened in
the Twin Cities.
Philadelphia Art Museum: Target’s fourth small-format store
opened in Philadelphia, with plans for three additional locations to
open in 2018 and 2019.
Honolulu Ala Moana Center: Target’s fourth store in
Honolulu opened in the world’s largest open-air shopping center.
Leveraging Technology and Digital Channels to Drive Growth
Target continues to accelerate enhancements in stores and digital to
create a networked shopping experience, with stores, digital channels
and supply chain working together to meet guests’ needs. In 2018, Target
will offer guests additional digital fulfillment options by expanding
Target Restock, introduced earlier this year, to guests nationwide.
Target’s digital investments include:
Same-Day Delivery: Allows for same-day delivery of in-store
purchases, including fresh grocery, anywhere in Manhattan and to parts
of Brooklyn and Queens. Same-day delivery was first tested at the
Tribeca store in June and will expand to Target’s Herald Square,
Brooklyn Bensonhurst and Brooklyn Fulton Street stores on Oct. 20.
Target Restock: Beginning later this month, guests will have
until 7 p.m. to place their Restock
order for next-day essentials delivery service currently available in
11 markets, including Atlanta, Chicago, Dallas, Denver, Los Angeles,
Minneapolis, New York, Philadelphia, San Francisco, St. Louis and
Washington, D.C./Baltimore. Restock will expand to more major markets
early in 2018 and nationwide by the end of the year.
Drive Up: Earlier this year, Target began testing a fulfillment
option called Drive
Up, a new service through the Target app that enables guests to
have their digital orders brought out to their cars by a store team
member. Guests can shop via the Target app and access nearly
100,000 eligible items, including home furnishings, toys, electronics,
household essentials, non-perishable food and baby-care items. After
an initial pilot program this summer with headquarters team members,
the retailer started offering Drive Up to guests throughout the Twin
Cities area this month.
Target + Google Express: Target recently expanded its
partnership with Google, including rolling out Google
Express service nationwide and using stores to deliver items in
just two days. Target will add new voice-activated shopping features
and plans to offer Target REDcard payment as an option for guests in
Pinterest Visual Search: Target’s U.S. retail-exclusive
partnership with Pinterest will integrate the Pinterest Lens into
Target’s registry and eventually Target’s app, allowing guests a
faster product search.
Enhanced Team Member Technology: This holiday, team members’
devices will be equipped to place guests’ orders online right from the
sales floor and have the purchase shipped to their homes.
Minneapolis-based Target Corporation (NYSE: TGT) serves guests at 1,828
stores and at Target.com. Since 1946, Target has given 5 percent of its
profit to communities, which today equals millions of dollars a week.
For more information, visit Target.com/Pressroom.
For a behind-the-scenes look at Target, visit Target.com/abullseyeview
or follow @TargetNews
View source version on businesswire.com: http://www.businesswire.com/news/home/20171019006242/en/