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Target Offers Organic Foods

September 29, 2006|From Bloomberg News

Target Corp. said Thursday that it had introduced its own line of organic foods, countering Wal-Mart Stores Inc.'s move into the fast-growing market.

Target is offering juices and whole-grain pizzas under its Archer Farms label along with organic produce in stores with full supermarkets, the Minneapolis-based company said.

Target and Wal-Mart are helping to boost sales of organic foods by offering them to discount shoppers. Wal-Mart plans to carry more than 400 organic items. Whole Foods Market Inc., the biggest U.S. natural-food grocer, has increased revenue an average of 21% the last five years.

Sales of organic foods grew to $12.2 billion in 2004 from $1 billion in 1990, according to the Organic Trade Assn.

Target operates 162 SuperTargets, which include grocery stores, among its 1,443 locations.

Shares of Target rose 32 cents to $56.24.

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