TARGET has submitted plans to build a new location on the ground once held by a 70-year-old Sears store.
The major retailer plans to open its new $19 million spot in Houston, Texas, and will begin the project next year if plans are approved, according to a court filing.
Target has submitted plans to build a new location in Houston, Texas[/caption]
It comes as the once iconic Sears has been forced into several store closures across the country.
Target has sent plans to the Texas Department of Licensing and Regulation for a 129,490-square-foot store.
A Target spokesperson told the outlet Chron that while excitement is high for the a new store, little news can be shared yet.
They said: “At Target, we continuously explore possible locations for new stores.
“I can tell you we are pursuing the opportunity to reach guests in the Houston Garden Oaks area, but at this time, we’re not at a point where we can share any new store plans.”
Construction on the new store would finish by March 2027, but a projected opening date has not yet been reported.
Sears had operated the spot since 1949, but was forced to close in 2020.
If Target‘s plan is approved, it could join a planned development being led by Sugar Land-based Lamasar Capital.
The firm, which bought the 11-acre space in 2023, said back then that it planned to demolish the Sears and build a mixed-use development space for retail and residential.
It is not known if Target‘s new store would be a part of that vision or if it would stand on its own.
NEW CEO
Target has announced plans to promote its current Chief Financial Officer, Michael Fiddelke, to CEO starting in February 2026.
Fiddelke has outlined three changes he will spearhead as the new CEO.
In an earnings call, he said that these changes would help Target achieve its full potential.
He said: “I know we’re not realizing our full potential right now.
What is Target Circle 360?
In April, Target launched its first-ever paid membership program, Target Circle 360.
For $99 a year, members get access to the following perks:
- Unlimited, free same-day delivery on orders over $35
- An extra 30 days to return your items
- Free two-day shipping on 100,000s of items
- 5% off in-store and online
- Automatic deals and exclusive partner perks
“…So I’m stepping into the role with a clear and urgent commitment to build new momentum in the business and get back to profitable growth.”
Fiddelke said that Target needed to turn consumer attention towards its own-branded product selection.
He also outlined his plan to improve the general atmosphere inside Target stores.
And finally, he said he wants to bring technological innovation to Target.
He thinks that some of the work Target does can be automated.
Right now, Fiddelke is testing a new merchandising concept in Chicago in preparation for his new job.
The new concept focuses more on items with style and cultural relevance.
