Target Is Ready for Oct. 3. Taylor Swift Drops New Album at Midnight.

A view of The Official Taylor Swift | The Eras Tour Book on display as guests shop Target Black Friday Deals and Taylor Swift Exclusive Products on Nov. 29, 2024 in Jersey City, N.J. (Dave Kotinsky/Getty Images)

Target is hoping that Taylor Swift’s new album release can provide the retailer with another slam dunk.

The company is planning to keep about 500 stores open until midnight local time on Oct. 3, the day Swift’s newest album, The Life of a Showgirl, is scheduled to drop. Target will be selling three exclusive versions of the CDs, as well as the standard edition, it announced online over the weekend.

Swift fans have grown accustomed to the pop star’s midnight album drops, with her most avid followers staying up to listen to the new songs on streaming platforms. Target’s expanded operating hours will give fans a new way to experience the release—one more akin to the CD drops of the ’80s and ’90s than the present day.

In extending select store hours for the release, Target is betting it can re-create the Swift-fueled gold rush it saw last Black Friday. Thousands of fans lined up outside of Target stores to purchase exclusive merchandise, including an official book of the blockbuster “Eras Tour” and an extended version of Swift’s 11th album, The Tortured Poets Department. The tour book sold nearly one million copies in its first week, Target said, making it the highest selling music book of all time.

Target is home to more than 10 exclusive versions of her albums, many of which have become collectors’ items. The exclusive version of Tortured Poets was the strongest music preorder in the retailer’s history. Life of a Showgirl could prove to be equally popular.

Swift’s star power has proven to have strong commercial appeal. Her late August engagement to Travis Kelce boosted the shares of brands the couple was wearing in an Instagram post or had partnerships with, including Ralph Lauren , American Eagle Outfitters , and LVMH Moët Hennessy Louis Vuitton .

Investors were less sanguine about Target’s midnight launches. Target stock closed 1.8% lower Monday at $91.50. The company recently named current Chief Operating Officer Michael Fiddelke as its new chief executive, taking over from current CEO Brian Cornell in February. The announcement disappointed investors who hoped an external hire would bring fresh perspective to a struggling retailer.

Write to Sabrina Escobar at sabrina.escobar@barrons.com