) - the operator of general merchandise and food discount stores
in the United States, announced the opening of its new store in
East Kendall, Fla.
The new 173,000 square feet store is slated to open in Oct
2013 and would hire 200-250 employees. Presently, Target has 18
new store openings lined up for 2013.
The move reinforces the company's strategic initiative to
consolidate its position in regions where it generates strong
sales. Moreover, the expansion of its store base will facilitate
it to effectively penetrate into its target markets and gain a
competitive advantage over its peers.
Alongside, Target is seeking promising expansion opportunities
in international markets such as Canada and Latin America and
introduced smaller-format stores called CityTarget, similar to
that of its biggest rival,
Wal-Mart Stores Inc
). The company is scheduled to open its first store in Canada in
Target is also focusing on store renovations and improving
store sales productivity. The company plans to sustain its
remodeling program at existing general merchandise locations,
which include an expanded grocery offering, improved store layout
and enhancement of in-store shopping experience across
departments, such as apparel, home, beauty, shoes, and baby.
Moreover, Target announced its year-round price matching
policy with the aim of offering its patrons the facility to match
the prices being offered by online retail giants. The company
will match prices with
) Amazon.com, Wal-Mart's Walmart.com,
Best Buy Co. Inc
) BestBuy.com, and Toysrus.com. Target believes that its price
matching policy coupled with the REDcard reward program would
provide it an edge over its competitors.
Currently, this Zacks Rank #3 (Hold) company operates through
1,778 stores in the U.S.
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