Target Outlines Growth Plans for 2010 and Beyond

Target Corporation is outlining its growth opportunities for the next five to 10 years. Target plans to continue growth within existing stores by investing approximately $1 billion in the renovation of about 340 existing stores, expanding grocery content in general merchandise stores, and enhancing layout, assortment, and “in-store experience” in areas including beauty, home, electronics, and video games.

Target also plans to open fewer than 10 additional stores in 2010, and aims to increase that number in 2011 and beyond. Also in the company’s plans, is developing a smaller store format with an “edited merchandise assortment” to meet the needs of those in dense urban markets, as well as to expand outside the U.S, most likely in Canada, Mexico, or Latin America in three to five years.