Target adds new space, more toys for holiday season

NEW YORK (Reuters) - Target Corp will dedicate nearly a quarter of a million square feet of new space to its toy business across 500 of its stores, the retailer said on Tuesday, part of an effort to win more holiday sales. The discount chain's customers will also be able to shop more than 2,500 new and exclusive toys, Mark Tritton, Target’s executive vice president and chief merchandising officer told reporters on a call. He acknowledged when rival seller Toys R Us went out of business earlier this year, the company saw an opportunity to work with vendors to sell a larger assortment of toys during the holiday and beyond. Target's moves come at a time when rival Walmart Inc is also trying to win more toy sales. Walmart told investors on Tuesday it has permanently expanded space to stock toys in 235 stores and also added more merchandise. At 100 Target stores, shoppers will be able to browse for presents in new and remodeled toy environment with more signs and displays, plush toys and interactive walls, the executive said. "Overall, our preparation is really about providing more space, more remodels, more inventory, more choices, more exclusives, events, more marketing, more ways to shop and even more ways to ship this season," Tritton said. (Reporting by Melissa Fares; editing by Anna Driver and Diane Craft)