Target Looks to Hit Bull’s-Eye with Food
By George Anderson
Target plans to more than double the amount of refrigerated, frozen and shelf-stable foods it carries in its discount stores, reports The Chicago Tribune.
In a conference call with analysts last week, Target’s President Gregg Steinhafel said, “In selected discount stores, where a full remodeling isn’t currently scheduled, we’re adding refrigerated coolers. By the end of this year, we expect nearly half of our stores to reflect these updates.”
The reason for the added food focus is straightforward. Target is looking to fuel its growth by using grocery items to bring in more consumers and expose them to the cheap chic that the chain is known for.
The chain is also looking to add alcoholic beverages in stores where laws allow.
Moderator’s Comment: Is Target making the right move in doubling the size of its grocery sections in its discount stores? What has the chain’s track
record been in grocery sales to date? –
George Anderson – Moderator