Target plans to renovate some stores

January 21, 2010 1:52:05 PM PST
Target says it plans to update existing stores in the U.S. this year instead of opening new ones. The company will spend $1 billion to renovate 340 existing stores. It will open less than 10 new locations because of the economic climate.

The renovated stores will offer more fresh food and groceries.

Target is also developing smaller stores for urban markets.