US grocery retailer Target will look to urban formats, international expansion and e-commerce for future growth with the aim to reach $100 billion in annual sales by 2017. CEO Greg Steinhafel told investors in New York: "As we plan our sales, we believe it's likely that the current economic recovery will continue to evolve slowly and unevenly, producing only modest annual increases in GDP and consumer spending. Against that backdrop, we'll work to gain greater loyalty and wallet share from our guests, particularly as they increase their shopping frequency in response to our remodels and 5% Rewards Program.”
Target has identified “hundreds” of potential trade areas for its new CityTarget format which is debuting in four markets next year. Target will evaluate the results at five pilot stores before rolling the concept out to new markets. Its Canadian operations, which will officially launch in 2013, are expected to add $6 billion in sales by 2017.
No comments:
Post a Comment