Target Corporation TGT is teaming with Walt Disney Co DIS with the expansion of Disney-themed shops within the big-box retailer’s stores.
What Happened: More than 160 Disney mini-shops will be within its stores by the end of the year. The stores will feature toys and games based on the popular Disney properties, including the “Star Wars” franchises.
“Target continues to be a top toy destination for all families, and we’re pleased to offer unique experiences and a curated toy assortment that brings joy to parents and children of all ages,” said Nik Nayar, senior vice president of hardlines for Target.
Related Link: Did Disney Dis Trump In Hall Of Presidents Placement?
Why It's Important: Disney’s partnership with Target comes as the company continues to move away from maintaining standalone retail stores. In June, the company announced it was closing all but one of its U.K. Disney Stores, while in March said it would shutter at least 60 of its North American stores, including all 18 of its Canadian locations.
“While consumer behavior has shifted toward online shopping, the global pandemic has changed what consumers expect from a retailer,” said Stephanie Young, president of consumer products games and publishing in a press statement. “Over the past few years, we’ve been focused on meeting consumers where they are already spending their time, such as the expansion of Disney store shop-in-shops around the world.”
Target’s announcement follows last week’s news that Macy’s Inc. M is returning the Toys ‘R’ Us brand to the U.S. market by making its product line is now available for sale on the Macy’s website and will be featured in shop-in-shops within 400 Macy’s department stores during 2022.
Photo: Courtesy Target Corporation.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.