Executive Summary

• The New York FGRT team attended the grand opening celebration of Target’s new store in Herald Square in New York City last week.
• The new location is one of Target’s small-format stores. It has 50,000 square feet of space and is the company’s third store in Manhattan and its 17th in New York City.
• By 2019, Target plans to open 130 small-format stores, which generate about twice the sales per square foot as traditional stores.
• The new Herald Square Target has fast-moving items such as New York City souvenirs, Halloween supplies and prepared food on the ground floor, with groceries, apparel, electronics and household items one floor below.