Retail

Target to invest $4 billion to speed up new stores, expand supply chain

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A person wearing a protective mask walks past a Target Corp. store at the Grossmont Center Mall in La Mesa, California, U.S., on Thursday, Feb. 11, 2021.

Bing Guan | Bloomberg | Getty Images

Target said Tuesday that it hopes to build on recent growth by investing about $4 billion annually over the next few years to speed along new stores, remodel existing ones and increase its ability to quickly fulfill online orders.

That represents a step up for the retailer, which invested about $2.65 billion in 2020.

Investors and analysts were left without a key piece of information, however: an outlook for the year. The company declined to provide guidance, saying Covid-19 made it difficult to predict…



Source cnbc.com

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