Wal-Mart's 5-Year Plan includes massive overseas expansion, and John Menzer's Hot on India. But Target wants to focus on the domestic market:
Meanwhile, Target expects to add more than 600 stores over the next five years, the company told shareholders at its recent annual meeting.During a May 12 conference call about its first-quarter earnings, one analyst asked Target about rumors that it might link up with Tesco to grow overseas. But Target said there is still growth to exploit stateside.
"We know we can double the number of stores in the continental United States," and factoring in existing stores' sales growth will "lead us to be able to triple in size in this country," Target CEO Bob Ulrich said.
"It's sexy to be overseas, but there's a strong return for our strategy here, so I think overseas is still a ways off."
Posted by Kevin on June, 7 2005 at 10:09 AM
