Target Sees Food Offer as Minimal Threat

Although Target Corp. here expects to take market share away from the grocery sector as it expands its food offerings, Wal-Mart Stores is likely to cause more damage, Douglas Scovanner, Target's executive vice president and chief financial officer, told an investors conference late last month. While Target has only a 1% or 2% market share in dry groceries, dairy and frozen foods, Wal-Mart

MINNEAPOLIS — Although Target Corp. here expects to take market share away from the grocery sector as it expands its food offerings, Wal-Mart Stores is likely to cause more damage, Douglas Scovanner, Target's executive vice president and chief financial officer, told an investors conference late last month.

While Target has only a 1% or 2% market share in dry groceries, dairy and frozen foods, “Wal-Mart nationally is in the 20s,” he said.

“So if our P-fresh [expanded fo

Register to view the full article

Already a member? .