CEO Brian Cornell told reporters he “envisions eventually opening hundreds of smaller “flex-format” stores"

CEO Brian Cornell told reporters he “envisions eventually opening hundreds of smaller “flex-format” stores"

US department store retailer Target Corp could be preparing to open hundreds of smaller "flex-format" stores which would be a major part of the company's future growth.

According to an article published by Bloomberg, the retailer is making plans to open nine smaller stores, such as those in Chicago and Philadephia, this year and a further 16 in 2017.

The news comes after the company held its autumn national meeting at its Minneapolis headquarters on Wednesday (14 September). During the meeting, Target chief executive officer Brian Cornell told reporters he "envisions eventually opening hundreds of smaller flex-format stores that could be a major part of Target's future growth", says Bloomberg.

According to the report, the smaller stores typically take up less than 50,000 sq ft and enable the company to expand into downtown areas where a big-box footprint is not possible.

Bloomberg adds the shops also create pickup points for online orders, helping Target compete with Amazon.com, and would carry a different product selection compared to typical Target stores as they are aimed at the demographics of a specific local market.

The retailer recently announced the launch of its latest children's offering, which is expected to generate more than US$1bn in sales in its first fiscal year alone. Cat & Jack, which includes clothing for both children and babies, is Target's largest ever private label apparel brand. 

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