Target reportedly backs off innovation to focus on core business

MINNEAPOLIS, Minn. — On the heels of a less than stellar holiday, Target is scaling back on some parts of its innovation agenda in order to concentrate on its core business.

  

The Minneapolis Star Tribune reported that Target has scrapped its highly secretive e-commerce startup called Goldfish, and also has shelved a prototype for a store of the future, complete with robots, that was due to be built soon.

   

Dustee Jenkins, Target’s SVP communications, said in a statement in the report that Target still sees “tremendous opportunity” for innovation to fuel growth in digital, technology, supply chain and merchandising, and is “absolutely committed to pursuing what’s next.”

   

“At Target, we regularly pause to evaluate our business and have to make tough choices about where our company is best served to invest our time and resources,” Dustee Jenkins, Target senior VP of communications, said in a statement according to the report. “We recently made some changes to the innovation portfolio to refocus our efforts on supporting our core business, both in stores and online, and delivering against our strategic priorities.”

  

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