Target: No plans for overseas expansion

<p>Discount retailer Target Corp. reiterated on Wednesday that it won't be expanding overseas anytime soon.</p><p>"Because we believe we have considerable opportunity for continued growth in the United States for many years, we are not currently pursuing plans for international expansion," Chairman and Chief Executive Bob Ulrich told shareholders at the company's annual meeting.</p><p>Minneapolis-based Target is the nation's second-largest discount retailer, behind Wal-Mart Stores Inc., and has carved out a niche by selling discounted consumable goods such as trash bags and soap alongside trendier clothes and home items than most discounters carry.</p><p>Wal-Mart first ventured overseas in 1992, and now has stores in Mexico, Canada, Argentina, Brazil, Germany and the United Kingdom, among other places.</p><p>Ulrich said Target would add about 100 new stores in 2006, and increase its overall square footage by about 8 percent. Target had 1,418 stores as of April 29. Wal-Mart has about 5,700 stores and has said that it, too will increase square footage about 8 percent a year.</p><p>Target's annual meeting was held at a SuperTarget store under construction in Acworth, Ga. It was broadcast on the Web.</p><p>___</p><p>On the Net:</p><p>HASH(0x1cda2dc)</p>

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