Target Closes Stores, Builds Distribution Center
Within the past week, Target Corporation has made separate announcements about plans to close five stores and open one-and the retailer will reportedly build a regional food distribution center in Texas.
The closures affect stores in Broomfield, Colorado; Portland, Oregon; Raleigh, North Carolina; Newark, California; and Orlando, Florida.
But Target said that it will open a new store in Fremont, California-about four miles from the Newark store that's closing-in March 2012.
The Minneapolis-based company said that the decision to shutter five stores was made “after careful consideration of the financial performance” of each specific location. The company added that all “eligible” store employees are being offered the option to transfer to other nearby Target stores.
In related news, The Dallas Morning News reported that Target will build a regional food distribution center in Denton, about 35 miles northwest of Dallas, to supply stores in Texas and seven other states. The 360,000-square-foot center will reportedly open in March 2013 and will supply about 235 stores.
Citing The Dallas Morning News, the Associated Press reported that approximately 250 construction jobs will be created when the distribution center is built-and the center will employ 140 workers when it opens in March 2013.
Target spokesman Carson Landsgard reportedly said that the region's Target stores have thus far been supplied by Eden Prairie-based Supervalu, Inc. But Target now has enough volume to take over control of stocking its grocery shelves.
Target serves customers at 1,767 stores and on its Web site. It is Minnesota's second-largest public company based on revenue, which totaled $67.4 billion in its most recently completed fiscal year.