• CNN reports that “Target said this week that it will open around 30 slimmed-down stores this year in cities like Los Angeles, New York and Washington, D.C. and on college campuses. These stores, which average about 40,000 square-feet, are one-third the size of Target's traditional sprawling stores.”
It is, the story says, a reflection of a larger trend: “Big box retailers and department stores are going small … opening smaller stores or downsizing existing ones to bring in urban shoppers and save money as online shopping takes over in the suburbs.”
• The New York Post reports that Trader Joe’s, which already has 11 stores in New York City, appears to be considering the opening of a store that would be much larger than its traditional format, and “is negotiating to open a giant (make that gigantic) store in the Park Imperial condo building at Broadway and West 55th Street … A sign in the corner of the former bank space says there are about 12,000 square feet available. But we understand that the new Trader Joe’s will be larger, swallowing up the seven-story former garage next door on West 55th Street.”
Trader Joe’s has not commented on the report.
It is, the story says, a reflection of a larger trend: “Big box retailers and department stores are going small … opening smaller stores or downsizing existing ones to bring in urban shoppers and save money as online shopping takes over in the suburbs.”
• The New York Post reports that Trader Joe’s, which already has 11 stores in New York City, appears to be considering the opening of a store that would be much larger than its traditional format, and “is negotiating to open a giant (make that gigantic) store in the Park Imperial condo building at Broadway and West 55th Street … A sign in the corner of the former bank space says there are about 12,000 square feet available. But we understand that the new Trader Joe’s will be larger, swallowing up the seven-story former garage next door on West 55th Street.”
Trader Joe’s has not commented on the report.
- KC's View:
