Target Corp. is planning to open more smaller-footprint stores, like this CityTarget, located in Seattle.
Big-Box Retailers Are Thinking Small
SUMMARY: Many chains are closing poorly performing locations, closing earlier and building smaller-footprint stores.
By Lainie Petersen
Big-box and department stores are rethinking their business strategies and in many cases are actually taking a “small is beautiful” approach. Many chains are closing poorly performing locations, closing earlier or building smaller-footprint stores.
The cuts are happening all over, with Macy’s, Target Corp. and Sears closing stores or announcing plans to do so. Both Wal-Mart Stores Inc. and Target have been making headlines with their smaller footprint brands, such as CityTarget and Walmart Neighborhood Market.
Retail analyst Walter Loeb recently praised Target’s new direction in a piece for... [ MORE ]