Inside This Issue - News
Target ups food mix at more stores
April 2nd, 2012
MINNEAPOLIS – Target Corp. recently finished the first in a series of remodeling programs aimed at bringing fresh food assortments to more of its discount stores.
Last month the retailer completed remodels of 100 general merchandise stores, devoting about 10,000 square feet to fresh produce, packaged meat and pre-packaged baked goods, as well as dry grocery and frozen food.
Prior to the remodels Target already had expanded food layouts in nearly 900 stores, and this year it expects to add such departments to another 230 stores.
"Bringing fresh food to Target means our guests only have to make one stop to stock up on all of their essentials," says senior vice president of grocery Annette Miller. "This year even more of our guests will experience the added convenience of one-stop shopping."
Target is also spending money to buy back stock. It completed a $10 billion share repurchase program authorized in 2007, and said it would spend $1.5 billion on such buybacks this year.