Disney partners with Target to open new retail stores in the U.S.
Category: #retail  By Pankaj Singh  Date: 2019-08-26
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Disney partners with Target to open new retail stores in the U.S.

The tie-up would also witness Target opening a small retail store near the Walt Disney World Resort by 2021.

Target Corp., one of the largest retailer in the U.S., has recently announced plans to open dozens of permanent Disney stores within its outlet by 2020, in order to lure more customers inside its retail outlets.

As per reports, the announcement comes after Target’s record-breaking quarterly earnings last week where it recorded an exponential rise in number of people who visited its stores and spend money in there. Moreover, its stock was reported at an all-time high of $106.52, scaling its shares up to 55% for the given financial year.

Credible sources cite that about 25 Disney stores are estimated to open at certain Target stores in the U.S., namely in cities like Denver, Chicago and Philadelphia, before the holiday season. Also, an additional forty Disney locations that would sell apparel, toys, games and more are planned to open by the end of October 2020.

Similarly, Target will also release a Disney-themed experience on the company’s website, allowing all its shoppers to buy products from various brands like Marvel, Star Wars and Pixar, along with other miscellaneous brands.

Speaking on the move, Brian Cornell, CEO, Target, said that Disney is among the company’s most admired and largest brand partnerships and their firm has invested a lot of time and effort on planning ways to grow their relationship further.

Incidentally, Cornell declined to comment on how many sales Disney merchandise currently brings in for Target or how much of a revenue driver the Disney store expansion could become for the company.

Reports cite that Target has dedicated a permanent space of around quarter-million square feet for toys in more than 500 stores, with about 100 stores receiving a complete remodel in the toy aisles. Moreover, when asked about sales, Target claims that its same stores recorded a growth of 5.7%, with the toy category playing a significant role.

Source Credit: https://www.cnbc.com/2019/08/25/disney-and-target-are-teaming-up-to-open-stores-with-each-others-help.html



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Pankaj Singh

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Pankaj Singh

Pankaj Singh Develops content for Market Size Forecasters, Algosonline, and a couple of other platforms. A Post Graduate in Management by qualification, he worked as an underwriter in the UK insurance domain before deciding to switch his field of profession. With exp...

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