Target Commits More Than $7 Billion to Adapt to Guest Preferences

TargetAnnoucementTarget‘s CEO Brian Cornell, COO John Mulligan and CFO Cathy Smith announced that the company is investing more than $7 billion in capital over the next three years, and about $1 billion in annual operating profits beginning in 2017, to grow sales faster, gain market share, adapt to guests’ rapidly changing preferences. 

This year, Target will plan to give guests a streamlined digital experience. The Cartwheel savings app will be combined with the flagship Target app for a more simple shopping solution.

Over the next three years, the company will build more than 600 locations. By 2019, all Target stores will have a Ship from Store function, so when guests order online, their order will ship from a store closest to them. The store backrooms will function as a hyperlocal distribution center instead of storing products.

In addition, Target will open 30 small format stores this year to double its presence in dense urban markets and on college campuses. By 2019, the company plans to operate more than 130 small format stores.

About the author

Maddie Michalik

Maddie Michalik

Maddie Michalik was the Editor-in-Chief of The Toy Book from 2020-2022. She was also a Senior Editor at The Toy Insider and The Pop Insider.

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