Target and Walmart are significant rivals in the retailing industry. Though Walmart is the world's largest company (2012 sales of $466 billion), Target had been growing faster than Walmart until the 2008 recession. From 2003 to 2007, same-store sales at Target grew an average of 4.6 percent, while Walmart's comparable growth was 2.9 percent. However, in 2008 Target's same-store sales fell 2.6 percent, while Walmart's rose 3.3 percent. What drove this difference? Product mix seems to be a large factor. Target devotes less than 20 percent of its space to consumables such as health and beauty products and food. Walmart, by contrast, has 45 percent of its shelf space for consumables, with groceries being a major component.

Though an obvious answer for Target is to continue following Walmart into groceries, consider that the average net profit of the grocery industry was less than 1.4 percent from 2002 to 2008.

Assume you've been called in to consult with Target on the problem.

Required: What should Target do to get back on a growth track? Give six specific actions. Answers must be in bullet form with explanation each composting three to 5 sentence each.