New stores ready to roll

A total of 27 new stores are scheduled to open this month, in what promises to be the largest single group of store openings from Target for several years to come. A total of 75 new stores are planned for the year, however the closing of select units will result in a net increase of about 60 stores compared to last year when Target opened 114 total stores, for a net increase of 91 units. The company ended the year with 1,682 stores. Planned store openings drop considerably in 2010, when the company has indicated it will open between five and 30 units. When or if expansion rates return to 2008 levels is unclear at this point, and, not surprisingly, will be dependent on economic circumstances and a rebound in consumer spending. The company has indicated in could open as many as 80 stores or as few as five.