Target Stores Staying Open Later17 Aug, 2014 By: Erik Gruenwedel
About 50% of stores will remain open until midnight through Christmas
Target stores reportedly have begun staying open until midnight in about 50% of their 1,800 domestic locations. The Minneapolis, Minn.-based upscale discount retailer had closed stores at 10 p.m., but decided to try the longer hours through the winter holidays, according to The Wall Street Journal, which first reported the change.
The U.S. Department of Labor recently released a study that found 0.3% of Americans shop after 10 p.m. With rival Walmart operating about 70% of its stores 24 hours, coupled with the burgeoning growth in e-commerce, No. 2 national retailer Target opted for the longer hours to help confront ongoing changes in Americans’ shopping habits.
Those changes include online shopping and Amazon, the latter the largest e-commerce platform in the world with more than $19 billion in revenue in its most recent fiscal quarter. Target is looking to up its e-commerce business, which lag Walmart.com and Amazon.
Indeed, Target continues to offer $5 credits to TargetTicket.com — its movie and TV show digital sales platform — with in-store purchases of select DVDs.
Target saw a 0.9% retail sales growth decline in 2013 — the second-biggest drop behind Safeway (3.7%) among the nation’s top 10 retail chains, according to the National Retail Federation.
Target, which hired new CEO Brian Cornell in July, also continues to rebound from a data breach incident last December that exposed the personal information of about 110 million customers.