MINNEAPOLIS, MN - At its financial community meeting, Target Corporation unveiled its multi-year strategy under Chief Executive Officer Michael Fiddelke to accelerate its return to growth. The strategy includes plans to refresh the store experience across the chain, invest in store payroll and training to elevate the guest experience, and strengthen key areas of the assortment.
"This new chapter of growth at Target is defined by clear choices and rooted in a deeper understanding of our unique lane in retail, the guests we serve, and the areas where we're distinctly positioned to win," said Fiddelke in the recent release. "This work is underway, and by putting style, design, and value at the center of every decision, we're making big changes to lead with a trend-forward assortment, elevate the guest experience, accelerate with technology, and equip our teams to deliver the most delightful experience in retail, for today and over the long term."
Target's Strategic Priorities
At the center of this work are four growth priorities that will guide Target's decisions and investments in 2026 and beyond:
- Lead with merchandising authority by setting trends with differentiated, culturally relevant assortments that win in style, design and value.
- Elevate the guest experience by investing in digital discovery and the in-store experience while strengthening loyalty and engagement.
- Accelerate technology to help teams move faster and create more personalized, joyful experiences for guests.
- Strengthen team and communities by investing in training and career growth for teams and building on Target's long-standing commitment to communities.
Investing to Accelerate Growth
In 2026, Target is planning to make an incremental $1 billion operating investment to deliver a more consistent, elevated experience for guests. This includes:
- More changes within all stores than any year in the last decade, including updated floor plans and enhanced in-store displays across the chain to spotlight top items, new styles and key partnerships.
- Hundreds of millions of dollars in additional store payroll and training in 2026. The investment is designed to drive greater consistency and help teams deliver an in-store experience centered on being delightful, inspiring and easy.
- Increasing spend on brand marketing and new technology, including AI.
Target also plans to increase its capital investment plans by more than $1 billion in 2026 — for a total of approximately $5 billion — to support new stores and ongoing remodels, technology and supply chain investments. The retailer expects to open more than 30 new stores this year as part of its path to 300 new stores by 2035, while investing in over 130 planned full-store remodels. Later this month, Target will mark a key milestone with the opening of its 2,000th store in Fuquay-Varina, North Carolina.
Elevating key categories and scaling differentiated offerings
With a clear view of the value Target can deliver for busy families — which it defines as digitally savvy, style-focused and value-conscious consumers — the retailer is making more intentional choices and investments in key product areas where its differentiation in style, design, value and experience will accelerate growth. In 2026, Target will:
- Food and beverage: Further infuse style and design throughout the grocery experience while allocating more space for this category as the company builds new stores and remodels existing locations. Increase the amount of newness across the assortment by nearly 50% and lead with innovation across owned, emerging and national brands. In May, Target plans to become one of the first national retailers to offer families a cereal assortment made without certified synthetic colors.
- Health and wellness: Strengthen its position as a destination for everyday wellbeing by building on the 30% wellness assortment expansion announced in January. The retailer plans to add thousands of new items and even more exclusives, as well as increase vitamin and nutrition offerings by about 20% chainwide in April.
See the full release here.
