Target aims new stores at millennials

Target will open new small format stores in three New York neighborhoods—the Upper East Side, Staten Island and Astoria, Queens—CNBC reports. The retail giant has already announced plans to open smaller stores in the Lower East Side and East Village this summer, as well as one in Hell's Kitchen in 2019. The stores are part of Target's new $7 billion sales strategy to modernize the relationship between brick and mortar stores and e-commerce, Retail Dive reports. Smaller stores across all retail earn more per square foot and cater to busy millennial and younger generation professionals in urban markets, an emerging demographic for retailers.