Target is planning to open 15 new stores during this year, placing focus on urban locations.
It is due to open a CityTarget, six normal-formal stores, and eight TargetExpress stores within Boston. It has already announced its opening of TargetExpress stores in St Paul, Minnesota, San Diego and San Francisco. It recently announced that it will open two stores within the Washington, DC area and one within Chicago.
Target opened its first TargetExpress within Minneapolis, its home town, during July. These are smaller stores, which carry merchandise specifically tailored to its location.
The company currently has eight CityTarget stores, which are generally smaller than the regular stores, but place more focus on portable goods for those who do not have cars to transport their goods.
The company stated that it would close 11 stores by February 1. This will be take place in smaller areas, such as Carrolton, Texas, Bay City, Illinois, and Lithonia, Georgia. The group opened 16 stores and shut 12 during 2014, and at present it has 1790 US stores.
Target entered the Canadian market two years ago, but has made the decision to close all of the 133 stores within the country. This comes after showing disastrous figures within Canada.
The company’s share price remained the same at $73.61 during Monday afternoon trading.