In what seems to be an attempt to compete more effectively with the dollar stores, Target made two announcements about its plans for 2011. The first concerns its store opening plans. In 2010, the retailer slowed down its growth pace, preferring instead to concentrate on renovating existing units. This year, however, Target intends to double its number of store openings to 21, according to The Star Tribune.
Furthermore, it will continue to add grocery components to more and more locations, including 380 stores this year, according to Supermarket News. And it will begin testing a smaller store format intended to make it easier for the big box operator to grow into urban areas:
"He said Target plans to open its first units of a new small urban format — called City Target — in 2012, woth pilot locations set for Seattle, Los Angeles, San Francisco and Chicago. “If successful, this format will provide us more flexibility to operate in densely populated areas on sites that won’t accommodate our larger-store formats,” Steinhafel said.
Toll Brothers Inc. posted a surprise profit for its fiscal first quarter, helped by a larger tax benefit and a higher average price for its homes.
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As finances tightened in the construction industry over the past two years, property owners say they experienced a remarkable decrease in the quality of service provided by architects, engineers and construction managers.