Target on Thursday said it will unveil a 27,000-square-foot flexible-format store in Manhattan’s East Village in summer 2018. The two-level store, which will have 9,500 square feet on the ground floor and 17,700 square feet on the lower level, will open at Extell Development’s new mixed-use project at 500 East 14th Street on the corner of Avenue A.
Target chairman and chief executive officer Brian Cornell has made growth in urban areas a priority and flexible-format stores are a vehicle for fueling that expansion. Target on Oct. 5 plans to unveil a 45,000-square-foot flexible format unit in TriBeCa featuring a Chobani café.
“We’re adapting our store footprint so that we can be in TriBeCa. It’s a sensational location on the corner of Greenwich Street. We have to continue to adapt to follow the consumer. The majority of new stores we open will be flexible format stores in urban centers,” Cornell said earlier this month, adding, “We’ve just started. You’ll see more and more of [these stores]. There’s the potential for hundreds of stores. The opportunities will be driven by the consumer.”
The retailer operates 23 of the smaller stores and said it will continue to add flexible format locations, including 28 previously announced stores set to bow in places such as Cupertino, Calif.; Freeport, Elmont and Brooklyn, N.Y.; Hyde Park, Chicago; Rittenhouse Square, Pa., and on the Penn State University campus in State College, Pa. The stores range in size from 20,000 square feet in Chicago to 46,000 square feet in Freeport, N.Y.
Flexible format stores offer assortments tailored to the needs of local shoppers. The East Village Target will offer an assortment of men’s and women’s apparel and accessories; home items geared to refreshing small living spaces, as well as apartment essentials; food, including grab-and-go items such as sandwiches, salads, snacks and beverages; health, personal care and beauty products, including a multicultural assortment, and portable technology products and accessories. The store’s services will include Target mobile and order pickup.
A flexible-format store unveiled in the Streeterville neighborhood of Chicago has exposed brick walls and wooden beams, and sells craft beer, Chicago sports team products and Todd Snyder apparel. The retailer said test stores with personalized products realized a 1 percent to 2 percent sales increase.