TARGET TO BUY 2 FORMER KOHL’S SITES
NEW YORK — Target, the discount division of Dayton Hudson, said Wednesday it will purchase two former Kohl’s Corp. locations near Detroit.
Target, which already has 22 stores in the Detroit market, plans to raze the existing Kohl’s structures and build 116,000-square-foot stores on each site. The stores should open by mid-1996.
Terms of the deal were not disclosed.
Earlier this week, Kohl’s said it was closing the stores at Northland Mall in Southfield and Eastland Mall in Harper Woods because they have not performed well.
The two stores generate annual sales of about $8 million each, compared with a company-wide average per store of $16 million.