Target leans into ‘affordable joy’ and its cheap chic reputation as sales slow
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Loading... - Anna Muler
- 01 Mar 2023
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NEW YORK — As Target sees growth slowing in sales and customer traffic, the company said Tuesday it will spend between $4 billion and $5 billion in the coming fiscal year to offer fresh merchandise, new services and faster delivery.
Target aims to launch or expand more than 10 private label brands, open about 20 new stores and offer curbside delivery to customer motorists who won’t have to leave their cars.
In addition, the retailer plans to remodel about 175 existing stores. It also intends to expand a network of hubs to make it cheaper and faster to get online orders to customers.
“In an environment where consumers are making tradeoffs, more of the same is not going to get it done,” Christina Hennington, Target’s chief growth officer, said Tuesday at an investor event in New York. Read More..
