Word: steinhafel
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...promised to tighten lending standards and increase collections. On the product side, the company knows it must offer more essentials. "We continue to invest in our food offering in recognition of its importance in driving greater frequency, increasing guest loyalty and making Target a preferred shopping destination," CEO Gregg Steinhafel said during Target's fourth-quarter earnings call. For example, last year the company opened its first distribution center for perishable goods like fruits, vegetables and meats in Lake City, Fla. Target is slated to open another distribution center this year, in Cedar Falls, Iowa. "That's a major step...
...Steinhafel also said that Target would sell perishables in most new and remodeled general-merchandise stores; the retailer plans to open 75 new locations this year. The company already sells meat and produce in its 245 "SuperTarget" locations (Target has 1,700 stores nationwide). Target has already enhanced its food investment in two general-merchandise stores in the Minneapolis area. Davidowitz, for one, is impressed. "When I checked the perishables, they are very fresh, very well presented, very appetizing, and people were buying them," he says. (See the top 10 food trends...
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