Target Will Hit $100 billion in Sales by 2010; Wal-Mart to Hit $500 billion

Target will approach $100 billion in sales in 2010, nearly doubling its current size, according to management consulting and market research firm Retail Forward report "Target 2010: Growth and Outlook". Wal-Mart is expected to reach $500 billion in sales by 2010.

Target's sales were $51.27 billion in the fiscal year that ended in January 2006, while Wal-Mart's were $312.43 billion.

Key findings include:

  • Target's sales growth at stores open at least a year have outpaced Wal-Mart in 39 of the last 40 months, and it is expected to outperform in December as well.
  • Target will likely operate 2,000 stores by 2010, up from nearly 1,500 now. Wal-Mart has more than 3,700 U.S. stores.

The report sees plenty of room to raise key performance metrics at Target:

  • Raising store productivity and shopping frequency should help Target get more sales out of existing stores. 
  • Moving toward 2010, Target needs to figure out how to convert monthly shoppers into more frequent shoppers.

The report said apparel and accessory stores, drug stores, supermarkets and department stores should all be on guard and ready for increased competition from Target.

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