CityTarget: Major Disappointment, but Is It An Epic Failure?
In fact, the numbers bear out what I'm saying here. In its latest quarterly report , Target breaks down how many square feet of real estate it uses by store type: Target general merchandise stores (395 stores, as of end of Q3); expanded food assortment stores (1,130); SuperTarget stores (251); and CityTarget stores (5).
On average, SuperTargets take up the most square footage at 177,291 apiece. Expanded food stores come in at 129,281 per. General merchandise stores run 119,084 square feet each. And CityTargets are not too far behind thus far at 102,800 square feet per location. Once inside you really cannot tell the difference between the stores, with SuperTarget the obvious exception.
Near-term, CityTarget should help the company drive traffic and sales. There might be a little cannibalization -- the San Francisco resident who usually drives out to suburban Daly City will now take the shorter trip downtown. But that likely will not trigger much of a drag.
From a long-term standpoint, Target provides another painful and pathetic example of what little vision it and its equally-as-inferior peers possess. Maybe the company is not concerned with such big picture stuff, but it should be.
--Written by Rocco Pendola in Santa Monica, Calif.