Target is opening smaller stores as part of its strategy

Fifty five small-format Target stores have opened nationwide, with an expected 130 to be open by 2019.

On the famous 34th Street in New York City, known for shopping, Target took over a former Foot Locker store across the street from the flagship Macy's location at Herald Square. The smaller stores are part of the retailer's strategy to make it easier for shoppers with a need for getting in and out quickly or picking up purchases.

Target has a $7 billion strategy set for the next three years that includes the small-format stores and remodeling existing stores, CNBC reports.

The smaller Target stores feature many of the same kinds of items found in the larger ones — apparel, food, home goods, electronics and more. They also feature several self-checkout stations.

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