This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Target Takes Page From Wal-Mart Playbook

Stocks in this article: TGT WMT

NEW YORK ( TheStreet) -- Target (TGT) is looking to keep pace with Wal-Mart (WMT), announcing during its media day that it plans on opening smaller-format urban stores.

The discounter already rolled out its first Manhattan store this year, and is now eyeing stores between 60,000 and 100,000 square feet. The typical Target store is between 125,000 and 180,000 square feet.

Target will open its first of these stores in Seattle, a block away from its Pike Place Market in 2012, and may also add these scaled-down stores in Los Angeles, Chicago, Boston and Baltimore.

This announcement comes after reports surfaced earlier this week that rival Wal-Mart is also looking at smaller real estate, as tiny as 20,000 square feet.

This expansion plan is expected to be further spelled out next month when Wal-Mart hosts its analyst day.

These trimmed-down locations are expected to mostly focus on grocery and fresh food items, and well as other consumer staples.

This, most likely, is the catalyst for Target's other initiative: adding grocery items to more than half its stores by 2011. The company's P-Fresh format will be in 850 of its 1,500 stores by the end of next year. Target expects P-Fresh will add 1 to 2 percentage points to its 2011 same-store sales.

Here, Target is once again hoping to compete with Wal-Mart, which sells the most groceries of any U.S. retailer.

Target also said during its analyst day that it will begin selling Apple's (AAPL) iPad in stores this October. Wal-Mart will also carry the device in time for Christmas.

--Written by Jeanine Poggi in New York.

>To contact the writer of this article, click here: Jeanine Poggi.

>To follow the writer on Twitter, go to

>To submit a news tip, send an email to:

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,778.15 +421.28 2.43%
S&P 500 2,061.23 +48.34 2.40%
NASDAQ 4,748.3960 +104.0840 2.24%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs