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After Missing 2015 E-Commerce Goal, Target Pledges To Spend $2 Billion Each Year On Improving Online Operations

March 2, 2016: 12:00 AM EST
Retailer Target said that, starting in 2017, it plans to spend $2 billion a year on expanding its e-commerce operations. After reporting a 34 percent increase in online sales during the last holiday season, the company said it plans to invest $1.8 billion in 2016 on capital projects, mostly on e-commerce and supply chain improvements. For full-year 2015, Target’s e-commerce grew 31 percent, failing to reach CEO Brian Cornell’s promise to Wall Street to reach 40 percent. Its e-commerce investment announcement means the company intends to never miss the target again.
Phil Wahba , "Target Lays Out Multi-Billion Dollar E-Commerce Plan", Fortune.com, March 02, 2016, © Time Inc
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