Target shuttering 4 small-format stores — see where
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.