Target Corp. said this week that it would remodel more than 1,000 stores by the end of 2020, as well as expand its Target Restock program and open new stores. As for the remodels, Target said it will combine “the best of our digital and technology upgrades, elevated merchandise presentations and fulfillment services to make shopping fast, efficient and fun." In addition, Target Restock, the company’s next-day essentials delivery service, will expand to more major markets early in 2018 and nationwide by the end of the year. Finally, Target opened 12 new small-format store across the country this week, and is planning to have 130 in operation by 2019.
Total Retail’s Take: Target is is aggressively investing in brick-and-mortar, despite the cloud that currently hangs over the channel. And it's good news for the retail industry in general. Even as retailers like Macy's and J.C. Penney are getting set to close more than 100 stores each, Target is opening them and has said that physical stores were crucial to its future.