In case you missed it, Retailing Today published its annual Insights 2013 issue recently and while Target is currently the nation’s sixth largest retailer that position is likely to change in 2013.
It is conceivable Target could become the nation’s fourth largest retailer by this time next year, overtaking both Home Depot and Walgreens.
"The nation’s sixth-largest retailer is enjoying solid low- to mid-single digit same-store sales growth and is poised to resume square footage expansion of its traditional discount stores with expanded fresh food offerings in addition to a new urban format called CityTarget," according to Retailing Today Insights 2013. "A two-year-old loyalty program continues to gain traction and is boosting average transaction sizes. However, the biggest boost to sales in 2013 will come from the company’s entry into Canada.
A total of 125 new Target stores are due to open next year in remodeled former Zellers locations. The fi rst wave of those stores is due to open in March, and Canadian expansion is expected to make a major contribution to the company’s goal of achieving $100 billion in sales within five years."
RT Insights was created to provide a blended look at the performance of the nation’s Top 100 retailers and Top 100 mass market product categories in one convenient format. To access the full report, click here.