Target Ramps Up Food Offerings

MINNEAPOLIS-Target Corp. is adding a larger assortment to its new and renovated stores as the discounter continues its expansion across the country. The company is opening 91 net new units with expanded food offerings this year, 72 of them regular-format stores and 19 of them in the larger Super Target format.

Target executives are also considering the acquisition of former department-store spaces that might come up for sale, though those transactions will most likely happen on a on-off basis and not come in the form of a portfolio, said Douglas Scovanner, the retailer’s chief financial officer, during its quarterly conference call. “We remain ready to purchase any site that is suitable for conversion to a Target store and meets our financial criteria,” he says.

Target currently operates 1,487 units across the country, 177 of which are Super Targets. Last year the company opened 113 new stores, not including closures and relocations.