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Target to invest $4 billion to speed new stores and remodels, expand ability to fill online orders

March 2, 2021


Target said Tuesday that it hopes to build on its recent growth by investing about $4 billion annually over the next several years to speed along new stores, remodel existing ones and increase its ability to quickly fulfill online orders.

Investors and analysts were left without a key piece of information, however: an outlook for the year. The company declined to provide guidance, saying Covid-19 made it difficult to predict consumer spending.

Shares were down nearly 5% early Tuesday, despite Target beating fourth-quarter earnings expectations.

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