Target Agrees to Buy Software Company as It Chases Amazon
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Target, looking to improve its digital business amid increased competition from Amazon, has agreed to acquire a software company that manages local and same-day deliveries.
The discount chain is buying Grand Junction, a San Francisco-based startup that links retailers and other distributors to a network of more than 700 carriers across North America. Grand Junction currently handles the same-day delivery service for Target’s store in Manhattan’s Tribeca neighborhood.
The deal is part of a broader overhaul of logistics operations at Minneapolis-based Target. The company aims to enhance the efficiency and profitability of a web business that has suffered setbacks in recent years, including a data breach, website outages and the departure of digital chief Jason Goldberger in 2016. Though Target’s online sales rose 22% in its most recently reported quarter, that was well behind Wal-Mart’s 63% growth.
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