In the wake of a disappointing quarter, Target Corp. is making long-term investments in its future.
The discounter plans to spend $7 billion in cash during the next three years as it lowers its prices and invests in its stores, with renovations planned for some 600 locations, reported CNBC.
“We can’t capture that market share if we’re presenting an old, tired store,” Target CEO Brian Cornell said.
The discounter will also accelerate the rollout of its smaller-format, urban market stores, according to the report.
