It’s a new era of retail, and our guests are shopping in different ways. They’re using digital more than ever, and seeking retailers that produce shopping easy, intuitive, and fun. That was all top-of-mind at our financial community meeting earlier today, where CEO Brian Cornell, COO John Mulligan, and CFO Cathy Smith distributed an overview of Target’s plans for future years. The day The best news of? 1 billion in annual operating profits beginning in 2017, to grow sales faster, gain market share, adapt to guests’ rapidly changing preferences and present them even more reasons to choose Target.
“We’re investing in our business with a long-term view of years and decades, not months and quarters,” Brian said. Digital leads the way. We’ve grown our digital infrastructure to increase speed, stability, performance, and capacity, doubling our digital sales from 2013 to 2016, and we’ll continue to accelerate our efforts. For instance, later this year, we’ll provide guests with a streamlined experience by merging Cartwheel-our popular savings app-with our flagship Target app, offering guests one simple shopping solution.
Our stores continue to play a crucial role. They’re places guests go to discover and become motivated, and they’re a huge advantage because they put us close to our guests. Actually, three-quarters of all Americans live within 10 miles or less of a Target store. Over the next three years, we’ll reimagine more than 600 locations. That’s great information for guests stopping by their local store for a fresh outfit or picking up tonight’s supper, but it’s even more important to allowing a digitally linked Target experience. That’s because the stores will both look and function differently.
Ship from Store: No longer are our backrooms just keeping products until they’re ready to proceed to the sales floor. These backrooms dual as hyperlocal distribution centers, allowing us to deliver orders to your guests from their own garden. It’s a win-win: Guests get their purchases faster, and we’re working more cost effectively. By 2019, all Target stores will have this capability.
That’s together with Order Pickup, a guest-favorite service that’s already available in every store. And we’re placing new tools in the hands of our store team members that will help guests check every item off their list. Shopping in a store and can’t find your size? We’ve got you protected. This June, we’re rolling out new technology which allows team members to search our inventory, take payment from a mobile point-of-sale system, and arrange delivery-all from the sales floor.
It’ll maintain all stores by the end of this 12 months. Talking about stores, we’re starting 30 small-format stores in 2017, doubling our existence in dense metropolitan marketplaces and on college campuses. And just forget about great products don’t. They’ve always been the star of our show, and a large reason Target stands out to our guests.
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We’ve discovered from launching brands like Cat & Jack, and Pillowfort how new brands that truly resonate can help us capture bigger bits of the market. Who doesn’t love a good deal? We realize our guests do, and we wish them to feel self-confident that they’re making the most their dollar when they shop at Target.
Over the years, we’ve piled on the offers. Now we’ll get back to increasing our concentrate on offering competitive prices across our entire assortment each day. Sound like a great deal of work? It will be and take the time it’ll, but we’re in it for the long term. Keep tuned in to A Bullseye View for improvements on our latest initiatives to check out more information on the first of our new brands come early July. Don’t lose out on the latest Target information and behind-the-scenes happenings! Subscribe to our bi every week newsletter and get the top stories from A Bullseye View delivered straight to your inbox!