Target Is Closing Multiple Locations, Starting May 13
The retailer said that the stores haven't been able to improve their performance.
Target is a smaller operation than Walmart (and a bit pricier), but the retailer's fanbase remains dedicated to filling their shopping carts with seasonal favorites while sipping a Starbucks beverage. Even in the digital age, Target is just one of those places that people actually prefer to shop at in-person. Target devotees say that roaming the aisles of the superstore is simply therapeutic. But if you're someone who needs your Target fix, you might be out of luck the next time your venture out. Read on to find out which Target stores are closing, starting May 13.
A store in Minnesota is shutting down.
A Target in uptown Minneapolis, Minnesota is closing on May 13, the Star Tribune reported. The location at 1300 W Lake St. is one of Target's "small-format" stores, specifically designed for places where full-size Targets won't fit, such as near college campuses and in urban areas. According to the Star Tribune, the Minneapolis Target, which occupies the first floor beneath an apartment complex, is one-sixth the size of a standard store. Its final day in business is set for May 13.
"The decision to close any of our stores isn't something we take lightly," a Target spokesperson told Best Life. "It's an action we take only after multiple years of working to improve performance." The spokesperson confirmed that this was the case in Minneapolis, and employees will be given the opportunity to work at nearby Target stores.
According to the Star Tribune, a suspect broke in and started a fire at the Minneapolis Target in January. But the company said the closure isn't tied to one incident, pointing instead to ongoing traffic issues. While the outlet noted that some new stores are opening in the area, Target is joining several other retailers that have shut down in this part of the city since 2019, due to both the COVID-19 pandemic and an uptick in crime.
Pennsylvania is losing a Target, too.
Those in Philadelphia will be sad to learn that a Target in Center City is also on the chopping block. According to the Philadelphia Business Journal, the Philly store, located at 1128 Chestnut Street, is another small-format store slated to close on May 13.
The Target spokesperson confirmed that this store is another that has declined in performance. Two other stores in the area, in Rittenhouse Square and at Broad Street and Washington Ave. have demonstrated stronger performance, Target told the Philadelphia Business Journal.
Just like in Minneapolis, current employees will be offered positions at nearby Target locations.
Two stores in the Washington, D.C. metro area are shuttering.
In addition to Philadelphia and Minneapolis, the U.S. capital will say goodbye to two Target stores that haven't been able to improve performance, the spokesperson told Best Life. One store is located at 7501 Baltimore Ave. in College Park, Maryland, which is home to the University of Maryland. The second location is at 500 S Washington St. in Falls Church, Virginia, a city right outside of Washington, D.C. Both stores are also closing on May 13.
"We value the team members at these stores, and they will be offered the opportunity to work at nearby Target locations," the spokesperson said regarding all of the upcoming closures. "We remain committed to these areas, including the more than 50 stores we operate in each metro area."
They also confirmed that these are the only closures Target has planned for fiscal year 2023.
Target is also opening several stores.
Target shoppers can take comfort in the fact that the company also has plans to expand its store footprint this year. Approximately 20 new stores are slated to open "in a variety of sizes," the company said in a Feb. 28 press release outlining 2023 strategic investments. They added that many "will include new design elements that reflect the local community, experiences that highlight new brands, assortment and services, and sustainable features."
During an earnings call on Feb. 28, John J. Mulligan, Target executive vice president and chief operating officer, indicated that stores are opening nationwide, "from the shores of the outer banks in North Carolina, to the heart of Inglewood, California." According to the Philadelphia Business Journal, Target is opening a new store near the University of Pennsylvania campus in Philadelphia.
In addition, 175 existing Target stores are getting a refresh, per the press release. This initiative includes partial and full remodels, namely with the addition of Ulta Beauty or Apple store-in-store experiences, the company said.