Target says ‘Drive Up Returns’ rolling out nationwide, starting this spring

Target Corporation announced its plans for 2023 at the retailer’s annual Financial Community Meeting in New York, including that the company plans to invest $4 billion to $5 billion this year to "expand its guest-centric services, operations network of stores and supply chain facilities, digital experiences and other capabilities." The retailer also shared more about its plans to advance its enterprise efficiency efforts, "aimed at optimizing its operations after years of rapid growth." This year, the retailer plans to launch or expand more than 10 owned brands, Target stated. "Additionally, the retailer will appeal to value-conscious shoppers with more items starting at $3, $5, $10 and $15. In addition, the retailer will deepen its focus on offering clear, compelling promotions, introduce enhancements to its Target Circle loyalty program and debut a new advertising campaign that celebrates how Target delivers affordable joy," Target said. Beginning this spring, Target will expand its latest offering, "Drive Up Returns," which allows guests to return most new, unopened items within 90 days of purchase from the comfort of their car for free, the company noted. "Target plans to open about 20 new stores in a variety of sizes as it seeks to reach new guests. Many of the new stores will include new design elements that reflect the local community, experiences that highlight new brands, assortment and services, and sustainable features. Target is also making investments in about 175 of its existing stores, ranging from full remodels to the addition of Ulta Beauty at Target or Apple at Target shop-in-shop experiences, or expanded capacity for same-day fulfillment services. These new and updated stores are one way Target brings new partnerships and the latest innovations in fulfillment services to guests while also investing in operational enhancements for its team. The company plans to expand its sortation center network from nine to more than 15 locations by the end of 2026, which will expand its next-day delivery capabilities to guests across major U.S. markets," Target said. "Investments in our shopping experience and frontline team have deepened our guests’ engagement with Target during the last few years, which is reflected in our continued traffic and sales growth. This year, we’ll continue investing in our long-term strategic initiatives that propel our market share and profit growth over time. Coupled with our teams’ ongoing efforts to scale our business with greater simplicity, we are confident in our ongoing ability to meet the evolving needs of our guests and deliver value for our shareholders," added Michael Fiddelke, CFO of Target.