It’s tough out there for physical retailers as Amazon encroaches on nearly every industry’s terrain. So it shouldn’t come as a shock that Target is doing anything it can to curb Amazon’s steady expansion. Target is reportedly using lease agreements that allow Target to prohibit competition from opening stores in the same complex, according to Reuters.
Citing anonymous interviews with landlords, lawyers, and brokers, Reuters writes that Target refused to allow a Whole Foods from opening a new location in California’s City Center mall. Chain stores that lease large mall and shopping center units–such as Target and Bed Bed & Beyond–have stipulations in their leases that grant them some control over big changes that may come to the shopping centers.
Currently, according to documents seen by Reuters, Target is trying to restrain Amazon by not allowing lockers at various locations around the country. Target said in a statement, “It’s inaccurate to characterize lease agreements as our corporate strategy.” You can read the full report here.CGW