How Target Plans to Replace $10 Billion in Sales
Over the past few years, Target (NYSE: TGT) lost a little of the magic that captivated its biggest fans. As the company struggled with competing in the digital era, it focused less on the merchandise that set it apart from rivals like Wal-Mart (NYSE: WMT) and Amazon (NASDAQ: AMZN).
As part of its ongoing comeback plan, the retailer plans to fix that in a dramatic way. Target is adding 12 house brands to its own portfolio over a two-year period.
This isn't a small change, as the new company-owned labels will replace outside brands that account for more than $10 billion in current sales volume, CEO Brian Cornell said during the company's conference call with analysts last week. That's about 14% of total sales.
Source: Fool.com
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