Mark Roy Mason, 48, was assaulted outside Home Bargains on Marsh Road, Rhyl, at 19:25 BST on Thursday. He was taken to hospital but later died.
North Wales Police said a white Renault Kangoo drove into the car park, followed by a black 4x4.
It is understood the offenders got out of the black vehicle and attacked Mr Mason before making off.
Det Ch Insp Jason Devonport said it was "a truly shocking incident".
He added: "We believe this to be a targeted attack, but the reason for this attack is yet to be established."
Mr Mason's family and the coroner have been informed.
The store was closed on Friday and a police cordon put in place in the car park.
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