Target 2005 Annual Report Download - page 10

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8
Strategic Growth
Consistent with our historical performance, Target continues to
deliver profitable market share increases through prudent
investment in new general merchandise and SuperTarget stores,
as well as growth in sales from existing stores. We maintain a
disciplined pace of growth, adding eight percent or more, net,
to our retail square footage annually through a combination of
organic growth—building one store at a time—and the acqui-
sition of premium real estate sites as they become available
from other retailers. Because of the considerable potential for
continued profitable growth in the United States, we are not
currently pursuing opportunities for international expansion.
Rather, we remain keenly focused on replicating the financial
attributes and preserving the brand integrity of our strategy
domestically. We believe this approach will allow us to deliver
meaningful market share gains for the foreseeable future.
Store Growth
To enhance access and increase convenience for both new
and existing guests, we continue to open attractive Target and
SuperTarget stores across the country — with our growth
primarily focused in major metropolitan areas. We maintain our
underwriting discipline by conducting a thorough site-specific
review and selecting the prototype format for each new location
with the most favorable projected trade area economics. During
2005, we opened 67 net new general merchandise stores and
Consumables and Commodities Reflecting the increasing
importance of food and commodities, we continue to expand these
assortments within our stores to provide greater guest convenience,
drive more frequent shopping visits and fuel incremental sales.
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