Target Anticipates 600 New Stores in Next Five Years

MINNEAPOLIS -- Discount retailer Target Corp. may be coming to a town near you.

Executives from the company said yesterday during an annual meeting that they expect to add more than 600 stores within the next five years, according to an Associated Press report. That would increase Target's store count to about 2,000.

Target's current portfolio includes 141 SuperTarget stores, which include grocery stores. About a quarter of the new stores will be this format, president Gregg Steinhafel told shareholders at the meeting.

Chairman and chief executive Bob Ulrich noted that plenty of domestic opportunities abound for Target, even beyond five years. Consequently, the company has no immediate plans to expand outside the United States, he said.
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