Business
Take a look inside Target’s new fashion-focused store in New York’s SoHo neighborhood
Target has turned its store in New York City’s SoHo neighborhood into a unique concept store. Inside of an area that resembles the company’s Bullseye logo, the company has “The Drop,” a rotating display of seasonal styles and curated items.
Courtesy of Target
In one of New York City’s most fashion-forward neighborhoods, Target is unveiling its latest effort to keep up with trends and lead the way on style.
The Minneapolis-based retailer, which is in the middle of a turnaround effort and on the cusp of a CEO change, gave a makeover to its big-box store in SoHo at 600 Broadway.
The one-of-a-kind concept store, which opens Tuesday, will have rotating merchandise, curated displays chosen by celebrities and influencers, and other kinds of special programming, Chief Guest Experience Officer Cara Sylvester said.
The SoHo store is part of a broader push by incoming CEO Michael Fiddelke to win back Target’s reputation for style and sharp merchandise. When he was named Target’s next leader in August, he said that would be one of his top three priorities, along with improving the customer experience and rolling out technology to make Target faster and more efficient. He will start the role in February, succeeding longtime CEO Brian Cornell.
Target is trying to get back to growth after roughly four years of stagnant annual sales due to self-inflicted challenges and a more difficult economic backdrop. Store foot traffic and sales have fallen as shoppers have responded to sloppier stores, out-of-stock and locked-up items, and the company’s decision to roll back key diversity, equity and inclusion programs. Consumers across the country have also become more selective about buying discretionary merchandise, which has long been Target’s sweet spot, as they pay more for necessities like groceries, electricity and housing.
At an event previewing the store on Monday night, Fiddelke described the SoHo location as “a punctuation point” for Target’s sense of style and its plans for the future.
In an interview with CNBC, Sylvester said the store’s merchandise has completely changed. The location, which opened about seven years ago, drew many shoppers and had strong sales, but sold mostly items found in drug and convenience stores, she said. It didn’t carry any of Target’s clothing or home decor, which felt both out of step with the neighborhood and like a missed opportunity for Target, she said.
“We said, ‘This is the style and fashion capital. We have to be able to showcase the best,'” she said, recalling the inspiration for the project.
From start to finish, the store’s redesign took four months as the company raced to get the project done ahead of the holidays, Sylvester said. It has redone the store’s first floor and plans to redesign the basement floor in the coming year, she added.
The SoHo store is reopening at a time when holiday shoppers and tourists flock to the major shopping district for holiday gifts and party outfits — and as Target chases sales across the country during the critical shopping season. It is one of 42 stores that the retailer has in New York City and nearly 2,000 that is has in the U.S.
“The world looks at New York to see what’s new and what’s next,” Sylvester said in remarks at the launch event. “And we want them to look at Target when they see what’s new and what’s next.”
A look inside Target’s SoHo store
Inside of a merchandise area that resembles Target’s Bullseye logo, the store will have rotating merchandise that’s organized around a theme.
Melissa Repko, CNBC
When customers step inside of Target’s SoHo store, they will enter a long, red hallway that resembles the inside of Target’s Bullseye logo. The area of the store is called “The Drop,” and Target will display merchandise there chosen around themes that feel relevant for the time of year, Sylvester said.
Like most of the store, the rotating area will swap out about every four to six weeks, she added.
As the store opens, The Drop is themed around the holidays — including outfits and items that a shopper may need for going out, lounging at home or giving a gift to a party host. The store displays range across categories, mixing in clothing, home decor, beauty items and more. For example, The Drop currently includes a table of products that a shopper might want if they’re hosting a night at home with friends, such as card games, an espresso martini mix and eye-catching glassware for the cocktails.
Sylvester said the company’s merchants are already working on the next two themes for The Drop, which will be focused on wellness in January, the season of New Year’s resolutions, and Valentine’s Day in February.
Target’s SoHo store has an eye-catching “Beauty Bar” that shows off fragrances, makeup items and more.
Courtesy of Target
Customers can step inside of Target’s “Broadway Beauty Bar,” which is designed for selfies and social media posts. It will have a rotating assortment of Target’s beauty merchandise, including fragrance brands like Fine’ry that are exclusive to Target, and trendy mini versions of face washes, lip glosses and more from national brands.
At launch, Target is featuring items chosen by celebrity makeup artist Katie Jane Hughes.
Along with the “Beauty Bar,” the store sells items typically found at the big-box retailer, including large shampoos, body washes and cotton balls.
Near the beauty area, shoppers can also press a button and snap a black-and-white selfie.
Though the store’s layout is new, it shares a similarity with some of Target’s other New York City locations — some items are locked behind glasses cases that an employee needs to open.
Target will tap celebrities and influencers to pick their favorite Target items for its “Curated By” display.
Courtesy of Target
In the back of the store’s first floor, Target will have a rotating “Curated By” display of items from across the retailer’s beauty, fashion and home categories, picked by celebrities and other creators known for their sense of style. Shoppers can browse and buy that person’s favorites or scan a QR code to see a list of them.
Target’s first Curated By features favorites from Megan Stalter, an actress and comedian who is in HBO’s “Hacks.” Some of her picks include a throw pillow, a pair of hot pink slippers, metallic water bottles and Universal’s “Wicked: For Good” movie-themed clothing items.
Inside of the “Gifting Gondola,” Target will show off exclusive merchandise like plushes from its toy brand, Gigglescape, and items themed around its dog mascot, Bullseye, such as special edition Haribo candies.
Courtesy of Target
Also at the store, shoppers can find Target’s “Gifting Gondola,” which features merchandise exclusive to Target.
Currently, the display includes holiday-themed plush penguins, bears and other products from Target’s toy brand, Gigglescape. It also includes some giftable items themed around the retailer’s bull terrier, Bullseye, including special edition Haribo gummy candies and a Bullseye Pez dispenser.
Over time, Sylvester said Target may introduce some items that are unique to the SoHo store and can only be bought there.
Disclosure: Comcast is the parent company of NBCUniversal, which owns CNBC. Versant would become the new parent company of CNBC upon Comcast’s planned spinoff of Versant.
Business
New Income Tax Act 2025 to come into effect from April 1, key reliefs announced in Budget 2026
New Delhi: Finance Minister Nirmala Sitharaman on Sunday said that the Income Tax Act 2025 will come into effect from April 1, 2026, and the I-T forms have been redesigned such that ordinary citizens can comply without difficulty for ease of living.
The new measures include exemption on insurance interest awards, nil deduction certificates for small taxpayers, and extension of the ITR filing deadline for non-audit cases to August 31.
Individuals with ITR 1 and ITR 2 will continue to file I-T returns till July 31.
“In July 2024, I announced a comprehensive review of the Income Tax Act 1961. This was completed in record time, and the Income Tax Act 2025 will come into effect from April 1, 2026. The forms have been redesigned such that ordinary citizens can comply without difficulty, for) ease of living,” she said while presenting the Budget 2026-27
In a move that directly eases cash-flow pressure on individuals making overseas payments, the Union Budget announced lower tax collection at source across key categories.
“I propose to reduce the TCS rate on the sale of overseas tour programme packages from the current 5 per cent and 20 per cent to 2 per cent without any stipulation of amount. I propose to reduce the TCS rate for pursuing education and for medical purposes from 5 per cent to 2 per cent,” said Sitharaman.
She clarified withholding on services, adding that “supply of manpower services is proposed to be specifically brought within the ambit of payment contractors for the purpose of TDS to avoid ambiguity”.
“Thus, TDS on these services will be at the rate of either 1 per cent or 2 per cent only,” she mentioned during her Budget speech.
The Budget also proposes a tax holiday for foreign cloud companies using data centres in India till 2047.
Business
Budget 2026 Live Updates: TCS On Overseas Tour Packages Slashed To 2%; TDS On Education LRS Eased
Union Budget 2026 Live Updates: Union Budget 2026 Live Updates: Finance Minister Nirmala Sitharaman is presenting the Union Budget 2026-27 in Parliament, her record ninth budget speech. During her Budget Speech, the FM will detail budgetary allocations and revenue projections for the upcoming financial year 2026-27. Sitharaman is notably dressed in a Kanjeevaram Silk saree, a nod to the traditional weaving sector in poll-bound Tamil Nadu.
The budget comes at a time when there is geopolitical turmoil, economic volatility and trade war. Different sectors are looking to get some support with new measures and relaxations ahead of the budget, especially export-oriented industries, which have borne the brunt of the higher US tariffs being imposed last year by the Trump administration.
On January 29, 2026, Sitharaman tabled the Economic Survey 2025-26, a comprehensive snapshot of the country’s macro-economic situation, in Parliament, setting the stage for the budget and showing the government’s roadmap. The survey projected that India’s economy is expected to grow 6.8%-7.2% in FY27, underscoring resilience even as global economic uncertainty persists.
Budget 2026 Expectations
Expectations across key sectors are taking shape as stakeholders look to the Budget for support that sustains growth, strengthens jobs and eases financial pressures:
Taxpayers & Households: Many taxpayers want practical improvements to the income tax structure that preserve simplicity while supporting long-term financial planning — including broader deductions for home loan interest and diversified retirement savings options.
New Tax Regime vs Old Tax Regime | New Income Tax Rules | Income Tax 2026
Businesses & Industry: With industrial output and investment showing resilience, firms are looking for policies that bolster capital formation, ease compliance, and expand infrastructure spending — especially in manufacturing and technology-driven sectors that promise jobs and exports.
Startups & Innovation: The startup ecosystem expects incentives around employee stock options and capital access, along with regulatory tweaks that encourage risk capital and talent retention without increasing compliance burdens.
Also See: Stock Market Updates Today
The Budget speech will be broadcast live here and on all other news channels. You can also catch all the updates about Budget 2026 on News18.com. News18 will provide detailed live blog updates on the Budget speech, and political, industry, and market reactions.
We are providing a full, detailed coverage of the union budget 2026 here, with a lot of insights, experts’ views and analyses. Stay tuned with us to get latest updates.
Also Read: Budget 2026 Live Streaming
Here are the Live Updates of Union Budget 2026:
New Delhi: The Cabinet on Sunday approved the Union Budget 2026-27 during a meeting in Parliament chaired by Prime Minister Narendra Modi. A meeting of the Union Cabinet was held at Sansad Bhawan at 10 a.m., and after the Cabinet’s approval, Finance Minister Nirmala Sitharaman proceeded to Parliament to present the Budget.
Earlier, FM Sitharaman met President Droupadi Murmu and offered her a copy of the digital budget. The President also offered ‘dahi-cheeni’ (curd and sugar) to Sitharaman when she arrived at the Rashtrapati Bhavan. The Finance Minister was seen carrying her trademark ‘bahi-khata’, a tablet wrapped in a red-coloured cloth bearing a golden-coloured national emblem on it.
Minister of State for Finance Pankaj Chaudhary, Chief Economic Advisor Dr V. Anantha Nageswaran, Central Board of Direct Taxes (CBDT) Chairman Ravi Agrawal and other officials were seen accompanying the Finance Minister. Sitharaman was set to present her ninth consecutive Union Budget in the Lok Sabha. In 2021, she switched to using a digital tablet to carry the Budget papers, further promoting a modern and eco-friendly approach.
The ‘bahi-khata’ is a red pouch that holds the digital tablet containing the Budget documents. This year, Sitharaman opted for a deep maroon Kanjeevaram saree from Tamil Nadu. The saree featured a deep maroon base with a contrasting border and subtle gold detailing, paired with a yellow blouse.
The Budget is likely to strike a deft balance of sustaining growth momentum and maintaining fiscal consolidation. It also needs to address near-term challenges emanating from unprecedented geopolitical flux, said economists. According to economists, the budget is likely to focus more on capital expenditure, especially in sectors deemed to be strategically important owing to prevailing geopolitical compulsions.
While the FY26 Budget was more tilted towards stimulating middle-class consumption with tax reliefs, the FY27 Budget’s approach to stimulating consumption will be selective, they added.
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