We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Target (TGT) Acquires Delivery Tech Company Grand Junction
Read MoreHide Full Article
Target Corporation (TGT - Free Report) announced Monday that it is acquiring the transportation tech company Grand Junction to expand its delivery capabilities. Terms of the deal weren’t disclosed.
“Grand Junction’s technology and algorithms will help Target deliver to guests faster and more efficiently,” said executive vice president, chief supply chain, and logistics offer Arthur Valdez. “This acquisition is part of Target’s ongoing efforts to strengthen Target’s supply chain to provide greater speed, reliability and convenience for guests.”
Grand Junction is a San Francisco-based company that provides a software platform to a variety of retailers and distributors to manage local deliveries through a network of more than 700 carriers.
The tech company is already working with Target on a same-day delivery pilot at the Target store in the Tribeca neighborhood of New York City.
This acquisition builds on Target’s increasing efforts to deliver products faster to consumers in order to compete with Amazon.com (AMZN - Free Report) and Walmart (WMT - Free Report) . In June, Target launched a next-day delivery service in Minnesota called Target Restock.
“Target is seizing a tremendous opportunity to leverage local delivery as a retail differentiator,” said Rob Howard, Grand Junction’s founder and CEO. “We’re thrilled about helping to pursue this opportunity, and to join Target at this unprecedented time in retail.”
When the deal is closed, Howard will become vice president of technology at Target. All Grand Junction employees will become Target team members as well.
Investors reacted positively to the news, with Target stock rising over 1% in morning trading on Monday.
5 Trades Could Profit "Big-League" from Trump Policies
If the stocks above spark your interest, wait until you look into companies primed to make substantial gains from Washington's changing course.
Today Zacks reveals 5 tickers that could benefit from new trends like streamlined drug approvals, tariffs, lower taxes, higher interest rates, and spending surges in defense and infrastructure. See these buy recommendations now >>
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Target (TGT) Acquires Delivery Tech Company Grand Junction
Target Corporation (TGT - Free Report) announced Monday that it is acquiring the transportation tech company Grand Junction to expand its delivery capabilities. Terms of the deal weren’t disclosed.
“Grand Junction’s technology and algorithms will help Target deliver to guests faster and more efficiently,” said executive vice president, chief supply chain, and logistics offer Arthur Valdez. “This acquisition is part of Target’s ongoing efforts to strengthen Target’s supply chain to provide greater speed, reliability and convenience for guests.”
Grand Junction is a San Francisco-based company that provides a software platform to a variety of retailers and distributors to manage local deliveries through a network of more than 700 carriers.
The tech company is already working with Target on a same-day delivery pilot at the Target store in the Tribeca neighborhood of New York City.
This acquisition builds on Target’s increasing efforts to deliver products faster to consumers in order to compete with Amazon.com (AMZN - Free Report) and Walmart (WMT - Free Report) . In June, Target launched a next-day delivery service in Minnesota called Target Restock.
“Target is seizing a tremendous opportunity to leverage local delivery as a retail differentiator,” said Rob Howard, Grand Junction’s founder and CEO. “We’re thrilled about helping to pursue this opportunity, and to join Target at this unprecedented time in retail.”
When the deal is closed, Howard will become vice president of technology at Target. All Grand Junction employees will become Target team members as well.
Investors reacted positively to the news, with Target stock rising over 1% in morning trading on Monday.
5 Trades Could Profit "Big-League" from Trump Policies
If the stocks above spark your interest, wait until you look into companies primed to make substantial gains from Washington's changing course.
Today Zacks reveals 5 tickers that could benefit from new trends like streamlined drug approvals, tariffs, lower taxes, higher interest rates, and spending surges in defense and infrastructure. See these buy recommendations now >>