Target outlines plan to drive billions in sales growth by 2030

After posting strong Q4 earnings and warning investors that President Trump’s proposed tariffs could raise prices, Target outlined its plan for making a series of investments aimed at driving “billions of dollars of profitable sales growth” by 2030, according to a company release.

“Shoppers continue to seek differentiated options and distinctive shopping experiences without sacrificing value, and Target has the scale, strategy, and capabilities to support all the ways consumers shop and engage with brands,” CEO Brian Cornell said in a statement.

At a high level, the company said it plans to deliver a trendy, affordable assortment; reinforce its digital and physical channels; and invest in its supply chain to improve speed and reliability. But beneath these pillars, it outlined some concrete strategies for growing its business.

Starting this year, for example, Target plans to overhaul and expand key product categories such as gaming, sports, and toys, with the goal of making it a destination for those products. It also plans to drive innovation in what it calls “owned brands,” which is Target’s spin on private label products, with a focus on “frequency categories.” These include essentials brands such as up&up and food and beverage brands such as Good & Gather and Favorite Day.

Changes are coming to the manufacturing process as well. As Chief Commerce Officer Rick Gomez hinted earlier this year, Target is working to reduce the go-to-market time for apparel, speeding up the time it takes to design, source, and get products on shelves, and becoming more responsive to trends in the process.

As for investments in digital, the company highlighted plans to invest in AI to improve search, social, and data-driven personalization, while expanding the number of products on its Target Plus third-party marketplace and growing sales on the platform from approximately $1 billion in 2024 to $5 billion in 2030.

“Our strategy is all about creating today’s Tarzhay, offering everyday discovery and delight for millions of families and ensuring Target is a consumer favorite for years to come,” Cornell said.