Target shares details of $7 billion capital investment plan

Target Corp. has a lot on its plate for the next three years.



Among other initiatives the retailer will open 30 small format stores in 2017, doubling its presence in urban markets and on college campuses. By 2019, Target will operate more than 130 smaller stores.



Target discussed its small format initiative in a posting on its website, where CEO Brian Cornell, COO John Mulligan and CFO Cathy Smith shared an overview of Target’s plans for the future, which include investing more than $7 billion in capital over the next three years, and about $1 billion in annual operating profits.



We’re investing in our business with a long-term view of years and decades, not months and quarters,” Cornell said. “We’re putting digital first and evolving our stores, digital channels and supply chain to work together as a smart network that delivers on everything guests love about Target, including more than a dozen new brands we’ll introduce over the next two years.”



To read the post, click here.