Target the Contrarian: 23 New Stores, 4,000 New Jobs

Most retailers are closing stores and slashing employees. Not Target ( TGT).

The discounter announced Tuesday that it plans to open 23 new stores and create 4,000 jobs.

All 23 stores, which include 17 general merchandise stores with expanded food options and two are full-grocery SuperTarget stores, will open on July 26 across the country.
Retailers Retrench

The general merchandise stores feature a blend of everyday essentials, including household products, electronics, clothing and an assortment of food and seasonal merchandise, as well as amenities like Starbucks, Target Caf and Target Pharmacy.

Each general merchandise store employees between 100 and 250 employees.

Shares of Target were down slightly .6% to $39.69 in morning trading, following the announcement.

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