Target, the popular retailer known for its seasonal favorites and loyal fanbase, will be closing four stores starting May 13. According to Best Life, a Target spokesperson stated that the decision to close any of their stores is not taken lightly and is only made after multiple years of working to improve performance. The Minneapolis Target store located at 1300 W Lake St., a smaller-format store designed for places where full-size Targets won't fit, will be closing due to ongoing traffic issues, despite a suspect breaking in and starting a fire at the location in January. Additionally, a Target store in Center City, Philadelphia, and two stores in the Washington, D.C. metro area, in College Park, Maryland, and Falls Church, Virginia, are also set to close due to declining performance.
Despite these closures, Target is planning to expand its store footprint this year by opening approximately 20 new stores nationwide, including one near the University of Pennsylvania campus in Philadelphia, and refreshing 175 existing Target stores. The new stores are expected to come in a variety of sizes and new elements which reflect the local community, experiences that highlight new brands, assortment and services, and sustainable features. The refresh initiative includes partial and full remodels, specifically with the addition of Ulta Beauty or Apple store-in-store experiences.
Target shoppers can rest assured that these closures are the only ones planned for fiscal year 2023, and current employees of the closing stores will be given the opportunity to work at nearby Target locations. While Target's loyal fanbase may be disappointed by the closures, they can continue to fill their shopping carts with seasonal favorites and roam the aisles of their favorite Target stores, which remain a therapeutic experience for many.