Find in the news:
BY COUNTRY

Target is investing $4 billion in renovations and developments



The company's goal is to open new stores, renovate existing ones, and develop online retailing.
Target - Depositphotos

According to the officially unveiled plan, one of the largest U.S. retailers plans to invest $4 billion in long-term development over the next few years. Target will pay special attention to the opening of new stores and reconstructing existing ones. The company is also developing a segment of online trading, using the latest technologies.

The company is planning to open 30 to 40 new stores every year, most of which will be small. They are expected to be located near college campuses and major cities such as New York, Los Angeles, and Portland. Up to 200 stores will also be remodeled each year. The company plans to increase distribution centers and try new, more technologically advanced ways to replenish inventory. It will also test new approaches to online sales designed to make the process more efficient.

This strategy continues the one begun in 2020 when Target invested $2.65 billion in development. According to CEO Brian Cornell, this move allowed the company to achieve such significant growth last year. The considerable rise occurred from a sound long-term strategy, not a pandemic at all. New store openings and new brands' recruitment have contributed more to sales growth than the coronavirus.

However, the company is in no hurry to write off the pandemic itself, refusing to make a forecast for the upcoming fiscal year, citing the market's uncertainty caused by the coronavirus. And that led to a 6 percent drop in share price, even though the company's profits exceed analysts' expectations and Target's sales are steadily increasing.

In response to the disappointment caused by the lack of forecasts, Brian Cornell promised that his organization is "focused on maintaining and increasing market share, no matter what variables it has to face." On the other hand, investors are wary of a decline in Target's earnings amid higher employee salaries and markdowns in specific product categories. Another factor that raises fears among investors is Target's rapid development in 2020, which exceeds the performance of the previous 11 years. It is doubtful that the company will maintain this pace in the future, and a pullback may well follow such rapid growth.

Photo credit: depositphotos.com.


More about shopping malls in the USA



YESTERDAY, Andorra:
Amazon Salon will officially open to the public in the coming weeks.
YESTERDAY, USA:
The brand's products will be available in 600 Kohl's stores already in the autumn of 2021, and the chain's official website will also make clothing and accessories available.
DAY BEFORE YESTERDAY, USA:
Fans of the South Korean pop sensation can try their idols' favorite dishes at McDonald's starting May 26.
Apr 19, 2021, Canada:
Shopping malls can no longer rely solely on retail; the future belongs to mixed-use entertainment complexes.
Apr 16, 2021, Qatar:
The sports giant is moving beyond traditional shopping, blurring the lines between the physical and digital spaces.
Apr 15, 2021, USA:
The Hollywood & Highland Center mall's top floors will be converted for various events and create office space.
Friend
and Follow
Asheville Outlets GLA:325 000 SF
ADDRESS: 800 Brevard Road, Asheville, NC 28806
USA . Asheville
Asheville Outlets
Optimum Outlet GLA:421 127 SF
ADDRESS: ve Eglence Merkezi | Istiklal Sokak No.2/B Yenisahra/Atasehir
Turkey . Istanbul
Optimum Outlet
Shopping City Süd GLA:1 862 156 SF
ADDRESS: Europaring 2334 Vösendorf
Austria . Vienna
Shopping City Süd
Queens Place GLA:440 000 SF
ADDRESS: 88-01 Queens Boulevard Elmhurst, NY 11373
USA . New York
Queens Place


Edit text

Dear visitor!
If You wish to add appropriate information to this description, please make changes in the text below and they will take effect after being verified by Malls.com administrator.

SAVE CHANGES
ADD PHOTO

Dear visitor!
If you desire to add more photos to this description, please upload them and they will appear on the page after being verified by Malls.com administrator.

CHOOSE PHOTOS
SAVE CHANGES
Sign in Malls.com
Sign in please, if you already have an account

Registration



Error filling
Error filling
Error filling
Error filling
Thank you!
You will receive e-mail with registration data shortly. In email you'll find link, confirm your account by clicking on it, please.

Malls.com Team
Thank you for message!
In the near future you will be contacted the manager
for further details.

Malls.com Team
Good mall, bro!
In the near future you will be contacted the manager
for further details.

Malls.com Team
We are dissatisfied with you :-(
In the near future you will be contacted the manager
for further details.

Malls.com Team

Write to us