Target Corp. is planning to cut several thousand jobs over the next two years to save nearly $2 billion from its budget. Target plans to make those cuts through corporate restructuring and other improvements.
Target announced they’re planning a number of new locations for their new micro-sized TargetExpress stores, including one set for the Highland Park neighborhood in St. Paul. Target field-tested the smaller format store in Dinkytown, opening up a 20,000-square-foot store last summer.
Target unveiled its latest store concept in Minneapolis’ Dinkytown neighborhood Wednesday, and it’s the smallest one yet. TargetExpress, at the corner of SE 5th Street and SE 14th Avenue, is one-sixth the size of a traditional Target, about one-ninth the size of a SuperTarget. It’s focused on essentials that people nearby would want.
In counterpoint to the “big box” model, Target announced plans to test out a small format store in the middle of the University of Minnesota’s Dinkytown neighborhood. The company said the story would be a mere 20,000 square feet.