New York City Target Corp. will open its first store under its new small urban format in Seattle in 2012. The chain plans to launch the smaller-store concept in 10 additional urban markets in the next few years.
Target executives made the announcement on Friday at the company’s media conference in Minneapolis.
Target officials had said earlier in the year that it had planned to open smaller stores anywhere from 60,000 sq. ft. to 100,000 sq. ft. (its average stores range from 125,000 to 180,000 sq. ft.).
In addition, Troy Risch, executive VP stores, told the gathering that the chain expects to have its expanded grocery format in place in 450 general merchandise stores by end of the month. Risch added that Target plans to remodel 400 more stores in 2011.
Target also said at the conference that it will begin carrying six models of Apple's iPad, starting at $499, beginning Oct. 3. The iPad will be covered under the retailer's 5% discount for store credit-card holders, which rolls out Oct. 17. Target will be the largest retail chain to carry the iPad.