Target to close 11 stores before year end
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Re: Target to close 11 stores before year end
Target was one of the pioneers in "one size fits all" retailing opening the same store with the same goods and same layout across many different locations.
So in that regard, all these new small stores are a departure from their historical ways in a big way. Will it work? Do their logistics have the right system to support smaller format? Will they get an acceptable ROI on smaller format (looks to me like they are going into a lot of high rent locations...)?
If these small format Targets do well for Target, I expect we will see CVS turn over a significant chunk of its front end locations to Target to operate. This would create instant significant growth for Target to please Wall Street, I expect the CVS Stores would do better volume as Target, and losing the front end sales would be a blip on the radar of CVS; front end sales are a very small chunk of their total sales.
So in that regard, all these new small stores are a departure from their historical ways in a big way. Will it work? Do their logistics have the right system to support smaller format? Will they get an acceptable ROI on smaller format (looks to me like they are going into a lot of high rent locations...)?
If these small format Targets do well for Target, I expect we will see CVS turn over a significant chunk of its front end locations to Target to operate. This would create instant significant growth for Target to please Wall Street, I expect the CVS Stores would do better volume as Target, and losing the front end sales would be a blip on the radar of CVS; front end sales are a very small chunk of their total sales.
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Re: Target to close 11 stores before year end
Target's annual store purge has begun again, this time in Hutchinson, KS.
http://www.hutchnews.com/news/20171106/ ... n-february
http://www.hutchnews.com/news/20171106/ ... n-february
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Re: Target to close 11 stores before year end
You can add Fergus Falls MN to the list of closings
http://www.kvrr.com/2017/11/06/target-a ... -location/
http://www.kvrr.com/2017/11/06/target-a ... -location/
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Re: Target to close 11 stores before year end
Again... I wonder what's going for them.
As always, their random early 90s stores, lowbrow millenium locations or excess/less desirable mid-2000s stores are probably all in the mix here.
As always, their random early 90s stores, lowbrow millenium locations or excess/less desirable mid-2000s stores are probably all in the mix here.
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Re: Target to close 11 stores before year end
They may have "pioneered" this but they haven't practiced it in ages. I live near a two level store and work near another one, both built in the mid 2000s and the layouts are completely different, and unlike a two level store from the same era I often visit when I'm in Ohio. The men's area is in completely different places in each store, for example. And these are just the simplest examples--their stores never seem quite the same in layout. I went to 3 different one-level 1990s/early 2000s store in Atlanta and they all were different in layout.
storewanderer wrote: ↑January 16th, 2017, 8:57 pm Target was one of the pioneers in "one size fits all" retailing opening the same store with the same goods and same layout across many different locations.
So in that regard, all these new small stores are a departure from their historical ways in a big way. Will it work? Do their logistics have the right system to support smaller format? Will they get an acceptable ROI on smaller format (looks to me like they are going into a lot of high rent locations...)?
If these small format Targets do well for Target, I expect we will see CVS turn over a significant chunk of its front end locations to Target to operate. This would create instant significant growth for Target to please Wall Street, I expect the CVS Stores would do better volume as Target, and losing the front end sales would be a blip on the radar of CVS; front end sales are a very small chunk of their total sales.
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Re: Target to close 11 stores before year end
12 stores in all will be closing: https://www.cnbc.com/2017/11/07/target- ... tores.html
Lauderhill, FL
Macon, GA
Matteson, IL
Romeoville, IL
Hutchinson, KS
Slidell, LA
Baltimore (West), MD
Benton Harbor, MI
Harper Woods, MI
Fergus Falls, MN
Hastings, MN
San Antonio (Far East), TX
For the most part, it appears that the closing stores are either in smaller/rural markets or in suburban areas with other stores nearby. The Baltimore store is near the site of race riots which occurred a couple of years ago, and is likely closing due to safety concerns which similarly caused the Jennings, MO store to close last year. Slidell and Macon are both somewhat surprising, but both are in close proximity to dying retail corridors so it is likely that traffic has fallen due to the closure of surrounding stores. The San Antonio store is in a location which likely should have never been built, surrounded by sprawling but underdeveloped residential areas and away from any major highways.
Lauderhill, FL
Macon, GA
Matteson, IL
Romeoville, IL
Hutchinson, KS
Slidell, LA
Baltimore (West), MD
Benton Harbor, MI
Harper Woods, MI
Fergus Falls, MN
Hastings, MN
San Antonio (Far East), TX
For the most part, it appears that the closing stores are either in smaller/rural markets or in suburban areas with other stores nearby. The Baltimore store is near the site of race riots which occurred a couple of years ago, and is likely closing due to safety concerns which similarly caused the Jennings, MO store to close last year. Slidell and Macon are both somewhat surprising, but both are in close proximity to dying retail corridors so it is likely that traffic has fallen due to the closure of surrounding stores. The San Antonio store is in a location which likely should have never been built, surrounded by sprawling but underdeveloped residential areas and away from any major highways.
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Re: Target to close 11 stores before year end
I can't speak for Macon, but Slidell is not a surprise. The entire retail corridor on the west side of Slidell is dying, and fast. Add to that the fact that Target and Academy are across the interstate, and it was a deadly combination. About all that's going to be left over there is Walmart, and they have another of those on the other side of town too.
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Re: Target to close 11 stores before year end
North Shore Square is definitely withering, but they replaced their Sears with an At Home (though JCPenney took off). Academy and the others in that center don't seem to be closing, and on the other side, there's Sam's Club and Home Depot. The only other major vacancy in that side is a Best Buy. Are you sure we're talking about the same area? I mean, the north side of Slidell is definitely pretty dead other than that (an abandoned shopping center with a former Dollar General serving as a church, and formerly anchored by Lishman's City Market and an unknown 50k square foot anchor; plus an old Winn-Dixie they bought off of Jitney Jungle/Delchamps).wnetmacman wrote: ↑November 7th, 2017, 8:02 pmI can't speak for Macon, but Slidell is not a surprise. The entire retail corridor on the west side of Slidell is dying, and fast. Add to that the fact that Target and Academy are across the interstate, and it was a deadly combination. About all that's going to be left over there is Walmart, and they have another of those on the other side of town too.
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Re: Target to close 11 stores before year end
NSS has wilted. At Home is all that's left, and they can't anchor a mall.pseudo3d wrote: ↑November 7th, 2017, 9:04 pm North Shore Square is definitely withering, but they replaced their Sears with an At Home (though JCPenney took off). Academy and the others in that center don't seem to be closing, and on the other side, there's Sam's Club and Home Depot. The only other major vacancy in that side is a Best Buy. Are you sure we're talking about the same area? I mean, the north side of Slidell is definitely pretty dead other than that (an abandoned shopping center with a former Dollar General serving as a church, and formerly anchored by Lishman's City Market and an unknown 50k square foot anchor; plus an old Winn-Dixie they bought off of Jitney Jungle/Delchamps).
Walmart and Sam's will attract traffic, but there's a larger Walmart across town. Home Depot is the same story. The Best Buy was a limited store when it opened, and it just never took off. Almost all of the other retail in the area is second generation, like the Bed, Bath and Beyond/Boot Barn in the old Delchamps, Dollar Tree/Marshalls in an old Service Merchandise. None of it is doing well.
The church-occupied shopping center was most likely Howard's. It hasn't been occupied by a retailer since, well, Howard's that closed in late 1986. The Winn Dixie in the old Delchamps on Country Club road closed last year. So Northern Slidell is in a retail funk.
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Re: Target to close 11 stores before year end
Not really surprised about the Fergus Falls store, I think most people there shop in Fargo or the Twin Cities for big purchases. Of course they're not hurting for retailers. I believe Walmart, Shopko Hometown, Herberger's and Mills Fleet Farm all have locations in Fergus Falls.