01:41 PM EST, 03/05/2024 (MT Newswires) -- Target ( TGT ) said Tuesday it will invest in reintroducing its loyalty membership program, expanding its brand portfolio and building new stores.

Financial details of the investment weren't disclosed.

The retailer said it will relaunch the Target Circle loyalty program on April 7, offering three new membership options that include a free-to-join membership with personalized deals. The company will also launch and expand several owned brands this year.

Target ( TGT ) said it will continue investing in its stores-as-hubs model over the next 10 years with plans to build more than 300 new stores and improve most of its nearly 2,000 stores.

Shares of the company jumped 13% in recent Tuesday trading. Earlier, Target ( TGT ) reported fiscal Q4 adjusted earnings that topped estimates by analysts.

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