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Target to Open 15 New Stores in 2015

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    NEWSLETTERS

    Target Corp.

    Target plans to open 15 stores this year with an emphasis on urban locations.

    The company will open eight TargetExpress stores, six regular-format stores, and a CityTarget in Boston.
    Target had previously announced the openings of TargetExpress locations in San Francisco, San Diego, and St. Paul, Minnesota, and said Monday it will open two stores in the Washington, D.C., area and one in Chicago.
    The company opened its first TargetExpress store in its home town of Minneapolis in July. The stores are smaller and carry merchandise tailored to cities where they are located. CityTarget stores are also smaller than typical locations and focus on more portable items for shoppers who don't have cars. The company currently has eight such stores.
    Target said late last year that it would close 11 stores by Feb. 1, the end of its fiscal year, in smaller towns like Carrolton, Texas; Bay City, Illinois and Lithonia, Georgia. During 2014 the company opened 16 stores and closed 12. It currently has 1,790 stores in the U.S.
    The company is shutting all of its 133 Canadian locations after a disastrous entry into the new market just two years ago, saying last month that it did not foresee a profit there until at least 2021. It is taking a related $5.4 billion charge in the fourth quarter.
    Shares of Target Corp. were unchanged at $73.61 in afternoon trading Monday.