Target Opens 45 Stores on One Sunday

Target Corp. (Minneapolis) opened 45 new stores on Sunday, Oct. 12, 2008, including its first locations in Alaska, in Anchorage and Wasilla. One of the new stores in Otsego, Minn., is reportedly a prototype for a new SuperTarget, which is larger than the current format, according to the web site foodinternational.net.

The new general-merchandise stores will be 132,400 square feet in size, roughly 6000 square feet larger than the current model. The new SuperTarget stores will be 186,000 square feet, about 12,000 square feet larger than existing locations. Target plans to roll out the 2009 prototypes at more than 100 locations nationwide next year. Each of the new store models is certified under the U.S. Green Building Council’s LEED program and also provides more space for food and electronics.

The company unveils new prototypes every four to five years.

The expansion came despite the mass-merchant discounter’s report that same-store sales slipped 3 percent during September. Target forecast flat same-store sales for fiscal 2008.

“Sales for the month of September were below our expectations, reflecting continued daily volatility,” said president and ceo Gregg Steinhafel, noting “challenges in the current environment, including weak top-line growth in our retail segment and higher net write-off rates in our credit card segment.”