MINNEAPOLIS — Target Corp. here yesterday said it will open fewer new stores than previously projected during the next two years, according to reports. The company, citing the economic slowdown, now said it plans to add 70 stores in 2009, down from previous plans of opening 70-75 locations. The company also is planning to open “still fewer” stores in 2010, the reports said. Target disclosed its revamped development plans in a conference call with analysts and investors. In addition, Target has also become more aggressive in collecting debt from its credit-card holders and is extending less credit to some. It also is placing more emphasis on price in its advertising, although company executives said Target would not stray from its basic positioning as a purveyor of trendy merchandise. The move to scale back store openings echoes a strategy announced by rival Wal-Mart Stores a year ago.
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