“CityTarget” Coming to Chicago, Other Cities
Target Corporation announced Tuesday that it will open a small-format store in Chicago, which will be called CityTarget, in 2012.
The Minneapolis-based retail giant announced in September plans to build smaller Target stores in 10 U.S. cities.
The company announced on Tuesday that those new small-format stores will be called CityTarget-the newest format from the retailer that already operates SuperTarget in addition to its traditional stores.
Target spokeswoman Jessica Carlson said in a Tuesday phone interview that the company will also open urban, small-format stores in Seattle, San Francisco, and Los Angeles. She said that the company is “still exploring opportunities” for other cities in which to open CityTarget locations, and those being considered include the Twin Cities, Washington, D.C., and Baltimore, among others.
The small-format stores will be about 60,000 to 100,000 square feet and will feature a “reduced, tailored merchandise selection,” Carlson added.
The Chicago store, which will be located at South State Street and Madison Street East, marks the first time that Target will open a location in a registered U.S. Historic Landmark. The store will occupy the recently restored Carson Pirie Scott building, which is now called the Sullivan Center.
“I applaud Target for bringing this urban store concept to Chicago, as well as the new jobs and economic opportunity this store will create,” Chicago Mayor Richard M. Daley said in a statement. “Target will be an important addition to State Street, one of Chicago's most important retail centers, and will be located in one of the city's most architecturally significant buildings.”
According to Target, the new Chicago store will create roughly 200 jobs. It will be the 11th Target store in Chicago.
Minneapolis-based Target serves customers at 1,750 stores in 49 states nationwide and on its Web site. It is Minnesota's second-largest public company based on revenue, which totaled $65.4 billion for the fiscal year that ended in January 2010. Financial results for the fiscal year that ended in January 2011 have not yet been released.