The discounter expects to spend between $3.2 billion and $3.4 billion on the new stores and the distribution and other support systems.
Last year, the Minneapolis-based retailer said it built 101 net new stores and added three Mervyn's stores. Target recently disclosed it is looking at options for its Mervyn's and Marshall Field's division, including possibly selling them. Last year, the company spent three-quarters of its total capital expenditures of $3 billion on new stores, expansions and remodeling.
Target has 1,553 stores in 47 states, including 1,249 Target stores, 266 Mervyn's stores, and 62 Marshall Field's stores.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
