Target continues its expansion in the New York City area, set to open its newest store in Astoria, Queens this weekend on Sunday, as part of a broader initiative to achieve $15 billion in profitable sales growth by 2030.
The new Astoria location, situated at 22-11 31st Street, will operate Monday to Friday from 7 a.m. to 10 p.m. and on weekends from 8 a.m. to 10 p.m. Spanning approximately 41,000 square feet, the store will employ around 100 team members and provide services such as Order Pickup, same-day delivery with Target Circle 360, and next-day delivery specifically for Astoria residents. Notably, this store will feature a CVS Pharmacy and offer stunning floor-to-ceiling views of New York City’s iconic Hell Gate Bridge from its third floor.
In addition to the Astoria store, Target plans to open new locations in Guilford, Norwalk, and Flemington over the coming weeks.
Guilford, Connecticut’s store will debut on August 20 at 900 Boston Post Road. Operating hours will be from 7 a.m. to 10 p.m. on weekdays and 8 a.m. to 10 p.m. on weekends. This store will cover over 78,000 square feet and will provide services like Drive Up and Order Pickup. Features include an Apple at Target, a CVS Pharmacy, and a Starbucks Café.
In Norwalk, Connecticut, a larger store located at 680 Connecticut Avenue will serve customers daily from 8 a.m. to 11 p.m. This location will cover over 117,000 square feet, employ about 180 team members, and offer Drive Up, Order Pickup, and same-day delivery services. Similar to Guilford, it will include a CVS Pharmacy and Starbucks Café.
Flemington, New Jersey’s Target store is set to operate from 7 a.m. to 11 p.m. Monday through Saturday and from 8 a.m. to 11 p.m. on Sunday. Spanning over 74,000 square feet and employing around 100 team members, this location will provide Drive Up and Order Pickup services, along with a CVS Pharmacy and Starbucks Café.
Looking ahead, Target has plans for additional sites, including West Orange, New Jersey, and Bridgehampton, New York, expected to open by fall 2025.
On a broader scale, Target, based in Minneapolis, will launch at least eight new stores nationally by August, with another nine planned for late fall. These openings are foundational to the company’s ambition of realizing 300 new stores over the next decade, which will run alongside remodeling existing sites.
During a March 2024 earnings call, CEO Brian Cornell outlined these strategic plans, emphasizing the focus on introducing full-size stores to spark incremental revenue growth.
Cornell underscored Target’s commitment to enhancing its supply chain and technology infrastructure, aiming to establish at least 10 additional supply chain facilities within the coming decade. The retailer is poised to expand its product assortment and reinforce its digital marketplace, ensuring a more effective omnichannel experience and loyalty program.
However, despite these growth initiatives, Target has adjusted its forecast, predicting a low-single digit decline in sales for fiscal 2025, with adjusted earnings per share anticipated to be between $7 and $9, down from earlier expectations.
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