Shipt Becomes Target’s Newest Weapon in the E-commerce War
Target (NYSE: TGT) announced last week that it will acquire same-day delivery firm Shipt for $550 million. The latter has developed a national network of shoppers that it can serve with same-day delivery of groceries and other merchandise.
Though Target has lagged behind peers in its order fulfillment capabilities, this latest move will help the chain leapfrog back into relevancy.
The big box store is paying for the acquisition in cash, the second such deal this year.
Source: Fool.com
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