Tuesday, April 17, 2007

Target plans to add 100 stores each year till 2011

One of the most inventive retail companies, Target announced that it would be opening around 500 stores in the next few years in the US alone. The company has big plans for expansion limited within the US and plans to increase it's total number of stores by 33% to 2,000. The company will also be opening its first stores in Hawaii and Alaska.

The company has shown very little interest in global expansion lately, especially when some of the largest and most powerful retailers are planing to focus on India and China for growth in the Asian markets. In contrast, Wal-Mart has almost a third of its 6,700 stores in foreign lands. At present the company has 1,502 stores and will be adding around a 100 stores each year within the US.

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