- Target (NYSE:TGT) says it will add nearly 250K sq. ft. of new space for toys across more than 500 stores and remodel toy departments in more than 100 stores, an effort to snap up market share left by the liquidation of Toys ‘R’ Us.
- TGT also plans to add more than 2,500 new and exclusive toys - nearly double the number from last year - host nearly 25K hours of family-friendly store events, and introduce a new toys hub on Target.com as well as a digital kids catalog.
- TGT sees the exit of Toys ‘R’ Us as "a huge opportunity,” says chief merchandising officer Mark Tritton, adding that it already has seen increases at some remodeled stores that are within a five-mile radius of a former Toys ‘R’ Us.
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Earlier: Carving up Sears and Toys 'R' Us holiday sales (Oct. 15)