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Number of Target Stores (FY2016 – FY2021)

Industry: Value, Discount and Variety Stores and General Merchandise Retail
Current: Company Performance

Target Corp opened 29 stores in FY2021
Sales rose by 12.7% YoY in FY2021
Target Corp had a total of 1,926 stores in FY2021

Target Stores Closed/Opened in a Year

Target Corporation is headquartered in Minneapolis, Minnesota, US. Target is a general merchandise retailer with stores in all 50 U.S. states and the District of Columbia. It offers customers everyday essentials and fashionable, differentiated merchandise at discounted prices. It operates as a single segment to enable customers to purchase products seamlessly in stores or through its digital channels. In FY2021, the company operated with 1,926 stores adding 29 stores during the year YoY. It also sells merchandise through periodic exclusive design and creative partnerships, and shop-in-shop experiences, with partners such as Apple, Disney, Levi's, and Ulta Beauty, and generates revenue from in-store amenities such as Target Café, Starbucks, and Target Optical. CVS Pharmacy, Inc. (CVS) operates pharmacies and clinics in its stores under a perpetual operating agreement from which it generates annual occupancy income.

Number of Target Stores

In FY2021, Target added 29 stores and the total store count was 1,926 at the end of the fiscal. Target remodeled 145 stores and opened 32 new stores, including 28 additional small-format stores in key urban markets and on college campuses. It launched Ulta Beauty on Target.com and in about 100 Target store locations and expanded its Apple and Disney experiences.

It also expanded its digital fulfillment capabilities during the year, like adding permanent storage capacity in more than 200 high-volume stores, adding thousands of new items to the list available for Order Pickup and Drive Up, and doubling the number of Drive Up parking stalls compared with last year. Also during FY2021, over 50% of the company’s digital sales were fulfilled by its same-day fulfillment options: Order Pickup, Drive Up, and delivery via Shipt.

The sales increased by 12.7% at the end of FY2021 which was driven by a 12.3% increase in-store traffic as compared to FY2020 YoY. Also, the store-originated sales grew 11% YoY. Digital sales grew by 20.8% during the year.

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