Expanded store openings by Target emphasize larger store designs

Large-scale retailer expanding business with seven new stores launching in October, surpassing the usual square-foot benchmark for most locations.

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2025 September 17 . 7:34 PM

2 min read

Large-scale Target store openings emphasize expanded retail spaces

Expanded store openings by Target emphasize larger store designs

Target Announces New CEO and Expansion Plans

After a successful tenure as CEO, Brian Cornell will be stepping down from his role at Target on February 1, 2026. He will be succeeded by Michael Fiddelke, the current COO, who will take on the chief position. Cornell, however, will not be leaving the company entirely. He will transition to serve as executive chair of Target's board of directors.

This change comes as part of Target's broader expansion plans. The mass retailer announced in August that it aims to open 300 new stores over the next decade, with a focus on retail fundamentals. The expansion plan includes a goal to exceed $15 billion in sales growth by 2030.

In the near term, Target is opening seven new stores this fall. These stores will be located in Arizona, California, Florida, Nebraska, South Carolina, Texas, and Virginia. Six of these stores are large-format stores, with an average size of 125,000 square feet. Three of these new stores will top Target's chainwide size average.

This fall's store openings add to the eight new locations announced in the summer. These stores span California, Connecticut, Florida, New Jersey, New York, and Pennsylvania. Target also announced that it will open a second new store this year in Texas.

Target debuted 23 new stores last year and is continuing its growth momentum. In fact, the company is opening a third new store in Florida in 2025.

While Target's expansion plans are underway, the company's second quarter results last month showed a slight decline. Net sales decreased 0.9% year over year to $25.2 billion, and store comps dropped 3.2%. Despite this, Target remains committed to its growth strategy and the leadership transition.

Michael Fiddelke, the incoming CEO, has been a key player in Target's operations, having served as COO since 2018. His promotion to CEO is a testament to his leadership and strategic vision, which will be crucial in driving Target's growth and success in the coming years.