Target Swings Open The Doors To A Trendy New Store In Downtown New York City

Target (TGT) - Get Report can now call bustling downtown Manhattan home. On Wednesday, the discount retailer, known for its cheap chic apparel and home goods, will swing open the doors to a two-floor, 45,000 square foot store in the Tribeca neighborhood of New York City. Target refers to the store as "flexible format", which is basically one that hawks a highly edited assortment of apparel and home goods and offers more grab and go food such as prepared sandwiches that cater to city dwellers. The Tribeca store will be the second flexible format location to open in New York City following the July debut of one in Forest Hills, Queens. In total, Target now has 26 of the smaller store formats scattered across the country in areas such as Chicago and Philadelphia, and plans to open several more, including in Downtown Brooklyn, later this year. TheStreet's Brian Sozzi reports from inside the new location.