MINNEAPOLIS (dpa-AFX) - Target Corporation (TGT) on Thursday said it plans to open more than 30 new stores in 2026, with the first seven set to begin operations this March.
The expansion is part of the retailer's long-term growth strategy, which includes adding more than 300 stores by 2035. The company is supporting these plans with a $5 billion capital investment in 2026 to upgrade stores and enhance online pickup and delivery capabilities.
Target also intends to invest hundreds of millions of dollars this year in store staffing and employee training to improve customer service.
Among the new openings is the company's 2,000th store, located in Fuquay-Varina near Raleigh. The 148,000-square-foot location features Target's latest store design with an open layout, a food and beverage section about 30% larger than the chain average, and same-day services such as Drive Up, Order Pickup and same-day delivery. It will also include a CVS Pharmacy, a Starbucks café and a Disney Shop at Target.
In addition to Fuquay-Varina, six other stores are opening this March in Bakersfield and Delano, California; Springfield, Missouri; Jersey City and West Orange, New Jersey; and Dallas, Texas.
The company also plans to remodel more than 130 stores this year and expand next-day delivery to over 20 additional metro areas, including Indianapolis, Memphis and Cincinnati, extending the service to roughly 60% of the U.S. population.
'Guests tell us all the time they want a Target closer to home, and this investment helps us do exactly that,' said Adrienne Costanzo, chief stores officer, Target. 'That means even more neighborhoods will get the full Target experience: trend-forward style and value, technology that makes the trip effortless and awesome teams who deliver easy, inspiring and friendly moments every single day.'
On Wednesday, Target shares closed at $120.08, down 0.60%.
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