Target’s Major Reinvention Is Full Steam Ahead This Year

Fresh off a better than expected holiday season for sales and profits, Target (TGT) is wasting no time in trying to keep its momentum going. At an event held in New York City on Wednesday, Target said it will pilot a new program called 'LA25' this spring. The discounter is taking its 50 top store enhancements that it has been testing across the country, and putting them all together in 25 stores in Los Angeles. California is Target's largest market with over 260 stores. Execs believe Los Angeles is a prime place to launch the test due to its diverse population. Aside from the new pilot program, Target will continue to revamp its food offerings to include more organics, while bolstering assortments in home and apparel. Explained Target executive vice president and COO John Mulligan in an interview with TheStreet on the company’s revamp, TheStreet’s Brian Sozzi reports from New York City.