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Report: Target aims for accelerated growth

December 05, 2006

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Columbus, Ohio—Target will approach $100 billion in sales in 2010, nearly doubling its current size and becoming an even bigger competitive force, according to consulting firm Retail Forward.

In its recently released report, "Target 2010: Growth and Outlook," Retail Forward says that to achieve such growth, Target must open new stores, grow sales at existing stores, get more from existing customers and generate sales from its online business.

The report states that many expansion opportunities currently exist for Target domestically, although the company will need to look beyond major metropolitan areas to grow after 2010. This could consist of possible expansion in Canada and Asia as well as entry into mid-sized markets.

Target can raise store productivity and shopping frequency by converting monthly shoppers into more frequent shoppers, the report states.

In addition, the discount retailer must maintain its focus on brand management, new categories and new processes as well as continue developing well-executive marketing, merchandising and multi-channel initiatives, according to the report.
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