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Axios
01-05-2025
- Business
- Axios
A "timeless" pairing: Breweries cook up partnerships with pizza trucks
Another Twin Cities brewery is leaning into the classic combo of pizza and beer. What's happening: Indeed Brewing rolls out a new partnership Thursday with Pizzeria Lola, with an on-site trailer dishing up pies from award-winning chef Ann Kim's popular south Minneapolis restaurant all summer. The big picture: The collaboration is the latest example of a local brewery featuring a mobile restaurant "residency" instead of relying on rotating food trucks to feed hungry patrons. State of the ovens: Wrecktangle Pizza is parked daily at Falling Knife, Headflyer teamed with OG Zaza last year, Fair State offers pies from neighboring Farina Rossa, and Maple Grove's Omni Brewing has an on-site mobile kitchen called Bear Paw Pizza. What they're saying: "Pizza and beer is timeless," Indeed chief business officer Ryan Bandy said of the popularity of the partnerships. "There's no market saturation with pizza and beer." Driving the trend: Partnering with a single vendor allows breweries to offer consistent and quality food, without having to manage the logistics of booking — and confirming — various trucks. "We can turn our brain off and focus on our beer and our service and the vibe," Bandy said. "That combination makes sense for a lot of places." Plus: Hosting a buzzy truck or trailer on a regular basis can also help a brewery attract — and keep — customers in a competitive market by making the taproom a dinner destination. "When you're banking on a variety of food trucks, I don't think as many people plan to go there to eat," Bob Galligan, government and industry relations director for the Minnesota Craft Brewers Guild, told Axios. "It's more of a gamble." Case in point: A previous summer partnership between Indeed and the Southern restaurant Revival led to less of a dip in business during the 6pm and 7pm hours, a time when customers tended to head elsewhere for dinner, Bandy said. Between the lines: Many taprooms prefer food trucks or trailers to an in-house kitchen because running their own operation adds costs and licensing and logistical headaches. "There's a bunch of breweries that I think would really love to have a kitchen, but a lot of the industrial zoning means you may not have the ability to actually have a restaurant," Galligan said. Zoom in: The new Pizzeria Lola residency was years in the making. The two teams started talking about the idea pre-pandemic, but COVID put the plans on pause. The idea was revived recently, after Lola's team emailed to say their chef bought a trailer at auction and didn't know where to put it. That note came right around the time Revival called it quits, meaning Indeed had the space — and desire — to make it happen. "It was kismet," Bandy said. If you go: The truck, led by Pizzeria Lola and Hello Pizza executive chef Chris White, will launch with a menu of four to five of 10-inch pizzas, salad, and garlic bread knots.
Yahoo
06-03-2025
- Business
- Yahoo
Target Unveils $15 Billion Sales Growth Strategy With Focus on Digital Expansion
On Tuesday, Target Corporation (NYSE:TGT) outlined a strategic plan to drive over $15 billion in sales growth by 2030, focusing on style, innovation, and value. Starting in 2025, Target plans to launch a multi-year initiative to expand high-growth product categories. This includes reinventing its gaming and sports categories, launching new Good & Gather collaborations, and strengthening partnerships with Champion and Disney. Digital Ecosystem: Target plans to significantly grow its Target Plus marketplace, aiming to increase third-party digital sales from $1 billion in 2024 to over $5 billion by 2030. Also Read: The retailer aims to add hundreds of brands, including Peloton, Daily Harvest, and Honest Baby Clothing, to enhance its product offerings and attract more customers. Additionally, Target intends to double the size of its in-house media company, Roundel, which generated over $2 billion in value last year. New Store Opening: Target plans to open around 20 new stores in 2025, mostly large-format locations, while continuing its 10-year goal of adding 300+ stores. The retailer will also invest in remodels to enhance shopping experiences, improve fulfillment efficiency, and drive digital growth through its stores-as-hubs model. Beauty Category: The company plans to expand its beauty selection with 2,000 new items and enhance its supply chain to support its growing multi-channel business. Owned Brand Innovation: Aiming to expand its frequency categories with new Good & Gather Collabs, Target is launching March 9 with Chef Ann Kim. It's also adding 600+ food and beverage items, refreshing up&up essentials, and updating Boots & Barkley pet supplies for more affordable options. Target Circle loyalty Program: Target plans to triple its Target Circle 360 membership in three years by adding new perks, benefits, and partnerships, including a collaboration with Marriott Bonvoy for enhanced travel rewards. Same-Day services: In 2025 and beyond, the retailer plans to further expand these services by enhancing convenience, increasing awareness, and improving the Drive Up and Returns experience. Yesterday, the company reported a fourth-quarter sales decline of 3.1% year-on-year to $30.91 billion, beating the analyst consensus estimate of $30.84 billion, and adjusted EPS of $2.41, beating the consensus estimate of $2.26. Target expects FY25 adjusted EPS of $8.80 – $9.80 versus an estimate of $9.31, comparable sales to be flat, and, FY25 sales growth to be around 1%. Investors can gain exposure to the stock via Capitol Series Trust, The Nightview Fund NITE (NYSE:NITE), and VanEck Retail ETF (NASDAQ:RTH). Price Action: TGT shares are up 0.14% at $117.30 premarket at the last check Wednesday. Read Next:Photo via Shutterstock UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? TARGET (TGT): Free Stock Analysis Report This article Target Unveils $15 Billion Sales Growth Strategy With Focus on Digital Expansion originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Sign in to access your portfolio
Yahoo
04-03-2025
- Business
- Yahoo
Target Announces Strategic Plans to Drive More Than $15 Billion in Sales Growth by 2030
Accelerations in digital experience, newness and value, speed and reliability will amplify the everyday discovery and delight that differentiates the brand MINNEAPOLIS, March 4, 2025 /PRNewswire/ -- At its financial community meeting today, Target Corporation (NYSE: TGT) outlined how ongoing investments will aim to accelerate its strategy and drive billions of dollars of profitable sales growth across its multi-channel business by 2030. The plans include: Bringing consumers an on-trend and affordable assortment packed with style, newness and value Reinforcing Target as the destination for discovery by further blending its one-of-a-kind physical, digital and social commerce shopping experiences Increasing ease, reliability and speed by investing in supply chain and fulfillment capabilities, and rewarding guests for choosing Target through Target Circle benefits "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," said Brian Cornell, chair and chief executive officer, Target. "With gains in consumer traffic, continuing improvements in speed and reliability, and accelerating growth across digital capabilities, we are doubling down on initiatives that scale these capabilities and drive meaningful top-line and bottom-line growth. 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." Delighting guests with on-trend newness and exceptional valueTarget will offer even more newness, quality and relevance across its unique product assortment. Investments will aim to build further momentum in the retailer's core discretionary categories and accelerate growth in frequency categories. Plans include: Reimagining key categories – Beginning in 2025, a multi-year initiative will build momentum in product categories with growth potential. For example, a reinvention in gaming, sports and toys will offer new and expanded assortments and an enhanced in-store experience that will strengthen Target's position as a gaming destination with video game releases and expand its youth sports offerings. The retailer is also refreshing its home assortment by adding even more trend-forward newness to brands like Hearth & Hand with Magnolia and Threshold designed with Studio McGee. Owned brand innovation – To spur further growth in frequency categories, Target will launch a new series of Good & Gather Collabs with celebrated chefs, kicking off March 9 with James Beard Award-winner Chef Ann Kim. More owned brand newness — including up&up and other essentials-brand expansions, 600 new food and beverage items across Good & Gather and Favorite Day and a refresh in Boots & Barkley pet supplies — will bring consumers a wider range of affordable options. New partnerships – Target will offer more of its beloved brand partnerships across the assortment, including recently announced collections with Champion and Disney, as well as shop-in-shops with Warby Parker. Speed and flexibility in apparel – Enhancements in apparel will reduce the time it takes to design, source and get product on shelves — strategically managing raw materials, production capacity and lead times to quickly add new styles and silhouettes to collections such as its rapidly growing All in Motion activewear line. Newness in beauty – Target's ongoing evolution in the beauty category continued in February with the introduction of more than 45 new beauty brands and 2,000 new items, with 90% priced under $20, and more newness to come in the year ahead. Designing for discovery, however consumers shop Target continues to invest significantly to enhance the digital experience and redefine omnichannel shopping by further blending its one-of-a-kind social, digital and in-store experiences. Plans for 2025 and beyond include: Elevating shopping with technology – The retailer will innovate with search, social and data-driven personalization. That includes enhancing solutions powered by artificial intelligence (AI) that offer more relevant product recommendations, optimize search results and integrate with social media trends. Inspiring discovery across digital platforms – In service of growing its interconnected digital ecosystem, Target plans to dramatically expand the size of its Target Plus marketplace. It aims to grow those third-party digital sales from approximately $1 billion in 2024 to more than $5 billion in 2030, adding hundreds of new brands like Peloton, Daily Harvest and Honest Baby Clothing to attract guests and expand offerings. It also plans to double the size of its in-house media company Roundel by 2030, which drove more than $2 billion in value last year. To continue its profitable growth, the retailer plans to create even more personalized connections, grow its base of vendor partners with hundreds more each year, and further integrate within Target Plus and the Target Circle loyalty program. Delivering ease, reliability and rewardsThe retailer will also invest across its stores and supply chain network to reach more consumers and get products to them faster — whenever, wherever and however they choose to shop — while rewarding guests for choosing Target. Plans include: New stores and remodels – Through its ongoing effort to add more than 300 stores over 10 years, Target plans to open around 20 new stores, the majority large formats, and invest to remodel many more across the country in 2025. Physical stores offer the space and flexibility to incorporate the best of Target's shopping experience while powering more efficient fulfillment operations and fueling digital growth as part of the company's stores-as-hubs model. Supply chain evolution – Updates and expansions across the company's supply chain network will move inventory with more speed, accuracy and efficiency. That includes modernizing the company's core inventory management system with AI-powered technology solutions that will improve reliability and reduce out-of-stocks. The company is also implementing several new package delivery solutions, leveraging existing stores and supply chain assets and its Shipt capability, to further improve delivery speed to consumers. New Target Circle benefits – More than 13 million members joined the Target Circle loyalty program in 2024. Following its successful relaunch in April, Target aims to triple its Target Circle 360 membership base over the next three years through new perks, benefits and other enhancements. That includes a new partnership with Marriott Bonvoy to make traveling even easier and more rewarding for Target Circle 360 members. Enhancing same-day services – Target's signature same-day services were its fastest-growing mode of shopping in 2024, driven by meaningful growth from Same-Day Delivery powered by Target Circle 360. The retailer aims to accelerate these services' growth in 2025 and beyond by improving awareness and ease of same-day delivery throughout the shopping journey and adding new enhancements to make the Drive Up and Returns experiences even more convenient. To stay updated on Target's strategy and initiatives, visit MiscellaneousStatements in this release regarding the company's future financial performance, planned investments in its business, and strategy for growth are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are subject to risks and uncertainties which could cause the company's results to differ materially. The most important risks and uncertainties are described in Item 1A of the Company's Form 10-K for the fiscal year ended February 3, 2024. Forward-looking statements speak only as of the date they are made, and the company does not undertake any obligation to update any forward-looking statement. About TargetMinneapolis-based Target Corporation (NYSE: TGT) serves guests at nearly 2,000 stores and at with the purpose of helping all families discover the joy of everyday life. Since 1946, Target has given 5% of its profit to communities, which today equals millions of dollars a week. Additional company information can be found by visiting the corporate website and press center. View original content to download multimedia: SOURCE Target Corporation Sign in to access your portfolio
