Target Tells Investors, Shoppers to Look for These Improvements in 2020
Target's (NYSE: TGT) stock was sent lower on Tuesday after falling short of its fourth-quarter revenue estimates, while renewed coronavirus fears undercut the stock even more. Executives weren't deterred, however, from publicly laying out its top strategic initiatives for 2020 in a press release posted Tuesday afternoon. The company is going to focus on improved same-day deliveries and pickups, small format stores, remodels, and more improvements to its supply chain.
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None of the initiatives were surprises. Speed, for instance, has turned into a key battleground for retailers, most of which are looking for any way to fend off behemoth Amazon.com and push back against Walmart (NYSE: WMT), which has done very well with curbside pickup. Target acquired delivery and shopping service Shipt in 2017, and has used it wisely to offer same-day deliveries in select markets. Meanwhile, sales through the company's Drive Up and Order Pickup services grew more than 500% and almost 50%, respectively, according to the news release.
Source Fool.com
