Two Major Stores Found In Michigan Could Be Merging
Two mega store chains could be on the verge of merging into a brand new store according to a Fast Company report. Citing unnamed sources, Kroger has been in the discussion of merging with Target since last summer in the hopes that Kroger can boost its grocery sales while target is hoping to increase its e-commerce efforts, according to Detroit Free Press.
If the merger takes place, Kroger and Target expect to have total sales projection of $195 billion annually which would include over 4,600 stores nationwide. The Ohio based Kroger and Minneapolis-based Target are two of the most popular grocery stores in Michigan. This merger seems almost necessary with the overwhelming success of competitors Walmart and now, Amazon.
As all these talks are still in the infancy stage, the report didn't include details of any possible financial terms or specifics about how and where operations would be handled, or where the headquarters would be located in; Minneapolis or Cincinnati. Wall Street investors don't think much of the merger rumor as Kroger declined to comment for the story and Target officials didn't respond right away to a message asking them to comment. We'll have to see how it turns out. Still, I think a hybrid between the two stores would be dope. They're already my two favorite places to shop.