Target to Invest $4 Billion Annually to Cement Pandemic Market Share Gains

Target will invest $4 billion annually over the next several years to open more stores, upgrade existing ones, and build out its supply chain as the retailer tries to cement market share gains made during the COVID-19 pandemic.

The announcement on Tuesday comes after the company reported a 21 percent jump in holiday quarter revenue as same-day delivery and store pick-up services helped fulfill robust demand for home goods, toys, and groceries during the health crisis.

By Uday Sampath