Target to open first store with smaller urban format in Seattle

Target to open first small urban store in Seattle

MINNEAPOLIS — Target Corp. will opening its first store under its new small urban format in Seattle in 2012. It aims to open in 10 other urban markets with the smaller concept in the next few years.

Company officials made the announcement on Friday at its media conference at Target Field, Minneapolis’s sports stadium.

Target company officials had said earlier in the year that it had planned to open smaller stores anywhere from 60,000 to 100,000 square feet. Its typical stores range in price from 125,000 to 180,000 square feet. John Griffith, executive vice president of property development, says that the new urban format will focus on daily necessities.

Target is no newcomer to cities. It opened in Chicago in 1994 and now operates about 150 stores in cities with more than 100,000 people within two miles.

THIS IS A BREAKING NEWS UPDATE. Check back soon for further information. AP’s earlier story is below.

MINNEAPOLIS (AP) — Target Corp. says it will begin carrying six models of Apple Inc.’s iPad, starting at $499.

The nation’s second-largest discount chain says it will start selling touchscreen tablet computer Oct. 3. The iPad will be covered under the retailer’s 5 percent discount for store credit-card holders, which rolls out Oct. 17. Target hopes the combination of the hit device and the discount will bring in shoppers during the holidays.

Target will be the largest retail chain to carry the iPad. Its shares rose $1.20, or 2.2 percent, to $54.97.

The models include 16-, 32-, and 64-gigabyte versions of both the Wi-Fi and Wi-Fi + 3G models.

The announcement was made at Target’s media conference in Minneapolis, where it is based.

In addition, Troy Risch, executive vice president of stores, told the gathering that Target is on track to have 450 general merchandise stores with its expanded grocery format by end of the month. Risch reiterated that Target plans to remodel 400 more stores in 2011.

Target operates 1,743 stores nationwide, including 240 Super Targets.