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Target to go "little-box" in urban markets

Target's announcement last week that it would open half-size stores in urban markets like Seattle drew attention in the business press.
 
The smaller format is a "new approach to urban markets," according to the Associated Press, featuring more site-appropriate sizing than the standard big box.

"'We've never been a cookie-cutter retailer, but we are increasingly realizing that one size doesn't fit all,' said John Griffith, executive vice president of property management at Target.

"The new store will be about 90,000 square feet. The new urban prototype will range anywhere from 60,000 to 100,000 square feet. A typical Target store ranges in size from 125,000 to 180,000 square feet. Company officials made the announcement Friday at a rare media conference at Target Field, the Minneapolis ballpark."
 
AOL's Daily Finance advanced a more prosaic take, pegging the move as an attempt to steal business from urban supermarkets and from competitor Wal-Mart, which also plans a new focus on urban markets.
 

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