In competition with Walmart, the new Target prototype is expected to include a fresh produce, meats and baked goods section. This week, Target announced that its third-quarter profits dropped 24 percent, while leader Walmart reported growth earnings of nearly 10 percent. Analysts say Target's losses are coming from slow apparel sales, is accounted for more than 40 percent of its revenue. Walmart's strategy has been to put more emphasis on its groceries and bargains during tough economic times.
The new Target will be located at the site of the old Coliseum Mall on Mercury Boulevard, reports local newspaper,
The Daily Press
. The area's current Target store on Saville Row will be closed this summer and employees will be moved to the new store. Another Target in nearby Newport News recently underwent renovations, which included
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