Due to the slowing economy, Target announced in a securities filing that it plans to slow down new store openings in 2009 in order to conserve cash. Here, Target plans to open 75 stores this year, whereas in 2008 the retailer opened 114 stores. The company also expects a slight single digit decline in same-store sales and it is expected that the sale of higher margin products, such as clothing, will continue to lag in comparison to other products.
Comments