Target Corporation (TGT) Buys Grand Junction to Amp Up Same-Day Delivery

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Target Corporation (NYSE:TGT) is planning to buy Grand Junction to push forward with same-day deliveries.

Target Corporation (TGT) Buys Grand Junction to Amp Up Same-Day Delivery

Grand Junction is a transportation technology company that has already been working with Target Corporation. This includes a test of same-day delivery at one of the retail chain’s stores in New York’s Tribeca neighborhood.

Grand Junction’s software allows it to work with more than 700 carriers to help packages reach their destinations. Target Corporation is hoping that this will help it expand its same-day delivery option to more customers.

Target Corporation has already been working to increase its delivery speeds. One of these recent efforts is Target Restock. It allows customers to get next-day deliveries on a plethora of household items. The delivery option lets customers to order enough items to fill a shopping cart and have them sent to their home the day after the order.

Target Corporation’s effort to move forward with same-day delivery will help it challenge its rivals in the retail market. E-commerce giant Amazon.com, Inc. (NASDAQ:AMZN) is one of these rivals with it offering same-day delivery to Prime members in several cities. Wal-Mart Stores Inc (NYSE:WMT) is also testing a same-day delivery method that has employees delivering packages on their way home from work.

Target Corporation’s acquisition of Grand Junction will have the companies employees becoming members of TGT’s own team. Rob Howard, founder and CEO of Grand Junction, will also be joining the retailer as its Vice President of Technology.

TGT stock was up 1% as of noon Monday.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2017/08/target-corporation-grand-junction-tgt/.

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