Target shuttering 4 small-format stores — see where
- Target will close four small-format stores this year.
- The closures target stores in the Washington, D.C., area, Philadelphia and Minneapolis.
- Target will open more small-format stores this year, but has indicated its focus is on even larger stores.
Target plans to shutter four stores this year, all locations built in the retailer's small-concept format that targets urban consumers.
Two of the locations that will close will be located in the Washington, D.C., metropolitan area, with one location in Falls Church, Virginia, slated for closure and the other in College Park, Maryland. The two other stores that will close are located in Minneapolis and Philadelphia according to a report from Insider. The stores are shutting down due to low performance and will close to customers May 13, the report said.
This year, Target plans to open approximately 20 new stores, remodel 70 locations and add more Ulta Beauty shop-in-shops to stores, according to a March filing with the U.S. Securities and Exchange Commission (SEC). And it’s not getting out of the small-format genre, as half of the new locations will be in the smaller format, a company spokesperson told Insider.
Target last year said the retailer would shift its focus in the coming years to larger stores — about 150,000 square feet or 20,000 square feet larger than is typical for the retailer — with a greater in-store fulfillment space for digital orders and same-day services, which it said accounted for about 10% of its overall business.
Last year, Target remodeled 140 stores and opened 23 new stores, including one with a new, larger footprint, according to the SEC filing. The retailer has remodeled more than 1,000 stores since 2017.
“Target’s stores are at the heart of how we deliver for our guests, whether they browse the aisles, shop online or stop by for same-day services like order pickup and drive up,” said John Mulligan, executive vice president and COO at Target, in a release last year. “With our reimagined store design and larger store footprint that better supports our same-day services, we can give guests more of what they love while incorporating features that build on our commitment to sustainability, community and helping all families discover the joy of everyday life.”
Retailers across sectors from Target, to Meijer and Ikea have toyed with shifting store sizes and formats as they look to meet consumers in different markets, particularly in cities or places near college campuses where larger stores aren’t practical.
Target isn’t the only major retailer to announce closures this year. Walmart also plans to close several underperforming locations this year, Retail Leader previously reported.