How Target Is Facing Down The Retail Apocalypse

Since CEO Brian Cornell joined Target three years ago, he has  simplified things by pulling the company out of Canada, farming out its drugstore business and focusing on the stylish clothing and home décor items for which “Tar-zhay” is famous. Now, facing increased competition from Amazon.com and a resurgent Wal-Mart., Cornell has responded by unveiling a $7 billion plan to open smaller urban stores, remodel others and lower prices, not to mention the $550 million he just paid to acquire web delivery startup Shipt. Read more at Bloomberg.