Target Store Expansion Plan Unveiled
Target outlined a $5.0 billion 2026 capital plan to accelerate its Target store expansion, shifting capex expectations and investor views.
KEY TAKEAWAYS
- Target outlined a $5.0 billion 2026 capital plan to fund stores, remodels, tech and supply chain.
- Incremental capital spending exceeds $1.0 billion versus prior plans and about $1.0 billion in added operating investment.
- More than 30 new stores planned in 2026, including the 2,000th in Fuquay-Varina on March 15.
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Target Corporation (TGT) announced on March 5, 2026, a store-expansion program that accelerates its Target store expansion by increasing openings, remodels, and fulfillment upgrades, supported by a multibillion-dollar investment to underpin longer-term growth.
2026 Openings and Milestones
Target said in a press release it will open more than 30 new stores in 2026 and aims to add over 300 locations by 2030. The first seven openings scheduled for March include Fuquay-Varina, N.C.—the company’s 2,000th store—Bakersfield, Calif.; Delano, Calif.; Springfield, Mo.; Jersey City, N.J.; West Orange, N.J.; and Dallas, Texas, which will be Target’s 160th store in Texas.
The Fuquay-Varina store, opening March 15 at 3200 Gold Ring Road, will measure 148,000 square feet and be the chain’s 55th location in North Carolina. It will feature expanded food and beverage assortments about 30% larger than the chain average, 24 Drive Up lanes, an on-site CVS Pharmacy, a Starbucks, and a Disney Shop. Company surveys show roughly 92% guest satisfaction with the new format. Target’s presence in North Carolina dates to 1995, with $8.9 million in giving and about 25,000 volunteer hours reported in 2025.
Adrienne Costanzo, Target’s chief stores officer, said, "Guests tell us all the time they want a Target closer to home, and this investment helps us do exactly that."
Capital Plan and Fulfillment Expansion
Target outlined a $5 billion capital investment plan for 2026 to fund new stores, remodels, technology, and supply-chain upgrades. This includes more than $1 billion in incremental capital spending compared with prior plans and roughly $1 billion in additional operating investment for payroll, training, floorplans, displays, artificial intelligence (AI), and brand marketing.
The company plans over 130 full-store remodels next year and expects hundreds of millions in added store payroll and training tied to openings and revamps. Its stores currently fulfill about 95% of digital orders, with same-day services such as Drive Up, Order Pickup, and delivery through Target Circle 360 remaining central to the network.
Target will expand next-day delivery into more than 20 additional metro areas, including Indianapolis, Memphis, and Cincinnati, extending coverage to roughly 60% of the U.S. population in 2026. Management also highlighted investments in AI and personalization to speed fulfillment and tailor in-store experiences. A Threshold home assortment relaunch is planned for summer 2026, adding shop-in-shops in about 200 stores.
The company said these investments align with growth priorities set by CEO Michael Fiddelke and will guide decision-making for 2026 and beyond.
