Target bets on $5B store revamp plan to revive sales

Target is moving forward with plans to expand its footprint through new, larger-format stores despite weak sales. The Minneapolis-based retailer announced last week during its earnings call that it will invest billions to upgrade existing locations and open additional large-format stores as it works to reverse its sales slump and return to profitable growth.The company will raise capital expenditures – the money it invests in long-term assets like technology and infrastructure – to $5 billion in the next fiscal year, a 25% increase or roughly $1 billion more than in 2025.WALMART CEO TO RETIRE