Target Corporation U.S. 2010, 2011, 2012 expansion plans/new store development plan
Interesting that the lack of large new retail developments significantly impact Target’s expansion velocity.
Per Target Corporation’s Q1 2010 Earnings Call:
From Doug Scovanner, EVP and CFO:
’ll start with the store growth expectations and let Gregg address the international aspect of the question, no, our outlook has not changed and that means that this year we expect to open 13 gross, 10 net stores and we expect that this year 2010 will be the low point in our development activity but it will be a long, long time before we approach the kinds of development pace that was firmly in place here several years ago.
So, that translates to who knows 20 or more stores next year perhaps, maybe some more in 2012 but generally speaking the large scale retail development in this country remains at very near absolute zero and so we are left to self-develop individual store sites that make economic sense.
We have the capital to be able to grow much, much faster. We have the capabilities, team and otherwise to be able to grow much, much faster. There are hundreds and hundreds and hundreds of trade areas in the US, maybe even more than a thousand that are suitable for Target stores that don’t have one yet but this is all a matter of finding the right development opportunities that end up making economic sense to us, end up making sense on an overall basis in the communities we aspire to serve.