Target Opens 2,000th Store in North Carolina, Plans 300 More by 2035

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3.10.2026

Quick Facts

Target opened its 2,000th store in Fuquay-Varina, North Carolina on March 15, 2026
The retailer plans to open 30 new stores in 2026 and 300 additional locations by 2035
Target is investing an additional $1 billion in operations and $5 billion total in capital improvements for 2026

Target reached a significant milestone with the opening of its 2,000th store in Fuquay-Varina, North Carolina on March 15. The 148,000-square-foot location features a CVS Pharmacy, Starbucks Cafe, and Disney Shop.

The new store represents Target’s latest food-forward prototype. The food and beverage department is 30% larger than the chain average. The location offers same-day services including Drive Up with 24 pickup lanes and next-day delivery throughout the Raleigh market.

Six other stores opened simultaneously in California, Missouri, New Jersey, and Texas. The openings mark the beginning of an aggressive expansion under new CEO Michael Fiddelke, who took over from Brian Cornell on February 1.

Target plans to open 30 new stores in 2026 and 300 more locations by 2035. The company will also remodel 130 existing locations and expand next-day delivery to more than 20 new metro areas, reaching 60% of the U.S. population.

“Guests tell us all the time they want a Target closer to home, and this investment helps us do exactly that,” said Chief Stores Officer Adrienne Costanzo.

The expansion comes as Target faces competitive pressure. Net sales fell 1.5% year over year in Q3 2025, with comparable sales declining 2.7%. Store traffic dropped 2.2% during the same period.

Fiddelke acknowledged the challenges, telling investors Target “hasn’t been” a pacesetter “for the last few years.” He said the company “has lost its way and, to some extent, its identity.”

Target is making an incremental $1 billion operating investment in 2026. The company increased its total capital investment plans by more than $1 billion to approximately $5 billion for new stores, remodels, technology, and supply chain improvements.

The retailer generated over $106 billion in fiscal 2024 sales. Physical stores fulfill more than 97% of sales, making the store expansion critical to growth strategy.

Target aims for operating income margin expansion of approximately 20 basis points in 2026. The company expects its retail media business Roundel to double in size by 2030 from nearly $2 billion in current value.