Target bets on e-commerce by investing $100 million in hubs to speed up delivery
Publishing timestamp: 2023-02-22 08:00:01
Summary
Target is investing $100 million to build a larger network of sortation centers to speed up and lower the cost of delivering online orders. The company is betting on e-commerce growth despite slower sales and a glut of inventory. Target has opened nine sortation centers and plans to have at least 15 by the end of January 2026. The centers will create more jobs and help Target better meet customer needs. The company expects to deliver 50 million packages through sortation centers in the coming year.
Sentiment: POSITIVE
Keywords: business, retail industry, home depot inc, target corp, breaking news: business, walmart inc, business news,
Source: https://www.cnbc.com/2023/02/22/target-bets-on-e-commerce-invests-in-delivery-hubs.html