) will unveil its second store in Cary, N.C., in Mar 2014. This
new 135,000 square feet store will hire 200 associates, and offer
daily fresh produce, fresh packaged meat, pre-packaged baked
goods and other exclusive branded products.
Target is also eyeing stores in international markets, such as
Canada and Latin America. Canadians now have the option to shop
at Target, as the company opens its much awaited stores in
Ontario. The doors of the 3 pilot stores in the Canadian province
opened on March 5.
Target, in order to expand its global footprint, has been
focusing on the Canadian market for a long time, and plans to
open 124 stores in 2013 with the first 24 outlets slated to be
inaugurated in March across Ontario. We believe the opening of
stores outside the United States will definitely boost the
company's top and bottom lines and improve cash flow generation
capability. The stores will carry items ranging from beauty and
apparel to home, grocery, and personal care.
This Zacks Rank #3 (Hold) stock is also extending its arms in
the rapidly expanding cooking and kitchenware market with a view
to draw more traffic by enhancing its portfolio of offerings.
Target entered into 2 separate transactions to acquire CHEFS
Catalog and assets of Cooking.com. The financial terms of the
deals, which are expected to conclude within 30 days, were not
Target intends to focus on its core businesses. The company
plans to sustain its remodeling program at existing general
merchandise locations by the addition of an expanded food section
along with a greater assortment of dry dairy and frozen items,
improved store layout and enhancement of in-store shopping
experience across departments, such as apparel, home, beauty,
shoes and baby.
Alongside, Target is seeking promising expansion opportunities
in international markets such as Canada and Latin America and
revealed its plans to introduce smaller-format stores called
CityTarget, similar to that of its biggest rival,
Wal-Mart Stores Inc
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.
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