Target’s ongoing technology investments fuel growing digital capabilities like Roundel, which optimizes advertising placements on to deliver a more relevant, personalized guest experience and create value for partners. Following the opening of 100 Ulta Beauty at Target shop-in-shops in 2021, the company is planning to open more than 250 new locations by the end of 2022 – with plans to operate at least 800 Ulta Beauty at Target locations over time. Target’s in-store and online experiences that elevate strategic brand partnerships, like Ulta Beauty, Disney, Levi’s and Apple, build relevance with guests and drive incremental growth. On top of the full-store remodels, Target will complete hundreds of smaller projects across the chain to support the growth of its fulfillment services and expanding in-store brand partnerships. These investments add inspiration to the store environment through modern design elements like brighter lighting and elevated merchandise displays, while also equipping the team with enhanced hold space and pickup areas for online fulfillment. In addition to new stores, Target will build on the company’s remodel program with 200 top-to-bottom renovations of its existing fleet, reaching more than half the chain since beginning this effort in 2017. This flexibility enables Target to open stores of any size to meet community needs. The stores will range in footprint, from mid-size locations in dense suburban areas to small-format stores in city centers like Charleston, SC, and New York’s Times Square. In 2022, Target plans to open approximately 30 stores, reaching more guests in new neighborhoods. “We see substantial opportunities to build on our core capabilities to drive deeper guest engagement and long term growth.” New Store Openings & Remodels “Years of investment in our team and business have driven our sales beyond $100 billion and positioned Target to meet the needs of our guests no matter how they choose to shop,” said Michael Fiddelke, chief financial officer, Target. Target will invest in its physical stores, digital experiences, fulfillment capabilities and supply chain capacity that further differentiate its retail offering and drive continued growth. Target Corporation (NYSE: TGT) today announced its plan to invest up to $5 billion to continue scaling its operations in 2022. (612) to expand capacity and capabilities in its stores, digital experience and supply chain
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