February 22, 2023

Target to invest $100M to expand delivery capabilities

Posted By: admin

Stacked Target shopping carts — Sundry Photography/iStock Editorial via Getty Images

Target Corporation (NYSE:TGT) announced that it plans to invest $100M in order to expand the retail giant’s supply chain sortation network to more than 15 facilities by the end of 2026. The initiative will bring Target’s (TGT) next-day delivery capabilities to guests across major U.S. markets.

At the moment, Target (TGT) has sortation centers in Minnesota, Texas, Colorado, Illinois, Georgia and Pennsylvania – as well as the three most recent facilities in the greater Chicago and Denver metro areas. With the new investment, Target (TGT) plans to build more than a half dozen additional facilities.

The retailer said sortation centers and the Last Mile Delivery capabilities will support the overall guest experience and benefit the business. “Now more than ever, our guests rely on us to deliver their everyday essentials and Target favorites when they want and need them most,” said Target Global Supply Chain exec Gretchen McCarthy.

Target (TGT) is due to report earnings on Febraury 28. Consensus estimates for the holiday quarter are for revenue of $30.7B and EPS of $1.41. The Minneapolis-based company has beat revenue expectations in 12 of the last 16 quarters, but has missed EPS marks in three straight quarters.

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