A look inside Target's Herald Square store shows why the retailer is thinking small [CNBC]
Macy's Inc (M)
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Source: CNBC
If you're one of the 42,000 people that traverse through New York City's 34th Street every day, you've got a new shopping option starting Friday. Target has taken over a former Foot Locker store, directly across the street from Macy's flagship Herald Square location. It's one of three small format stores opening in and or near New York City, and one of 12 Target stores opening nationwide this week. The two-story, 43,000-square-foot store — Target's 55th small format store — showcases a key part of the discount retailer's strategy. While other retailers like Macy's and J.C. Penney close stores, Target is leaning into its physical footprint. The big box retailer has plans to open 130 small format stores by 2019. Target hopes the smaller stores will make it easier for time-pressed shoppers to dart in and out, picking up their purchases. While this Herald Square site won't quite fulfill the city that never sleeps slogan, it gets close. It will be open from 7 a.m.
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