Target Corp. increases college campus locations
Minneapolis-based Target Corp. has revealed that it is expanding its “highly productive” smaller format stores to three additional college campuses, bringing its total to 23 university-located stores.
Target’s chairman and CEO, Brian Cornell, announced in its fourth quarter 2018 conference call that the company’s new store locations are at the University of Kentucky (a 20,000-square-foot store), Michigan State University (a 22,000-square-foot store) and University of Washington (a 21,000-square-foot store).
The new smaller format stores are incremental to Target’s expansion strategy, according to Cornell, as the company reveals that it is setting its focus on locations ranging from urban neighborhoods to college campuses, with the company hoping to open about 30 of the small stores annually over the next several years.
Target’s college stores — averaging around 20,000 square feet — are “designed for quick and convenient trips, and stocked with locally relevant products at affordable prices,” according to a news release.
“We want to help make students’ experiences fun and easy, serve up products and services they’ll love and show them the best that Target has to offer, so they become lifelong guests,” said Mark Schindele, senior vice president of Target Properties.