Content about TARGET

May 10, 2013
Target beta tests Cartwheel

Target is beta testing a new app that allows users to save on items and share deals on Facebook. A Bullseye View, Target's online magazine, announced the introduction of Cartwheel.

NEW YORK — Target is beta testing a new app that allows users to save on items and share deals on Facebook.

A Bullseye View, Target's online magazine, announced the introduction of Cartwheel, where people can find offers on products by browsing the system or looking at friends' activites, and add up to 10 of their favorites to a list. Once a red check appears in the corner of the offer card, the item can be purchased, and customers can either print a special barcode from their desktop computers or use their mobile devices in-store to access it.

May 9, 2013
Target sets bull’s-eye on fall with new collection

Summer’s not yet here, but Target has its bull’s-eye set on fall. The discount retailer is teaming up with designer Phillip Lim on an exclusive collection for women and men.

MINNEAPOLIS — Summer’s not yet here, but Target has its bull’s-eye set on fall. The discount retailer is teaming up with designer Phillip Lim on an exclusive collection for women and men. 

Called 3.1 Phillip Lim for Target, the collection will be available Sept. 15 at most Target stores and online.

May 1, 2013
Union derides Target as ‘Walmart junior’ following NLRB ruling

The United Food and Commercial Workers Union Local 1500 representing the greater New York area claimed victory over Target this week and offered some harsh words following a ruling by the National Labor Relations Board.

The United Food and Commercial Workers Union Local 1500 representing the greater New York area claimed victory over Target this week and offered some harsh words following a ruling by the National Labor Relations Board.

April 29, 2013
Target to showcase products chosen by Wired magazine

Target will feature electronics picked by the editors of Wired magazine, under a deal between the two.

MINNEAPOLIS — Target will feature electronics picked by the editors of Wired magazine, under a deal between the two.

 

Target said the custom-curated assortment of products would include four products available for the first time at Target, including personal fitness, photography and digital music streaming.

 

April 23, 2013
RadioShack’s disappointing Q1 sales spell branding changes

RadioShack posted first quarter 2013 quarter sales of $849 million and a loss of $43 million, compared with $913 million last year and a loss of $8 million.

FORT WORTH, Texas — RadioShack posted first quarter 2013 quarter sales of $849 million and a loss of $43 million, compared with $913 million last year and a loss of $8 million.

As a result of the company’s disappointing first quarter, it has ended its mobile phone partnership with Target. RadioShack said it had stopped operating its Target Mobile centers before the end of last month. The company had operated mobile phone kiosks inside Target stores. 

April 18, 2013
Another signs of soft sales in Q1

Target may not cater to exactly the same shopper as Walmart, but there is enough overlap between the two companies to know that reports of weakness out of Minneapolis are never a good sign in Bentonville.

Target may not cater to exactly the same shopper as Walmart, but there is enough overlap between the two companies to know that reports of weakness out of Minneapolis are never a good sign in Bentonville.

April 16, 2013
Target lowers Q1 sales and profit forecast

Softer than expected sales trends prompted Target to lower its first quarter earnings outlook Tuesday morning.

Softer than expected sales trends prompted Target to lower its first quarter earnings outlook Tuesday morning.

The company said it now expects first quarter comps to be flat, after previously forecasting a range of flat to 2% growth. The softer than expected sales prompted the company to revise first quarter adjusted profit expectations to an unspecified level of "slightly below" earlier guidance of $1.10 to $1.20.

April 4, 2013
Electronics department ends another experiment

First it was RadioSchack and now Target has ended another electronics initiative with Best Buy.

First it was RadioSchack and now Target has ended another electronics initiative with Best Buy.

Target and Best Buy confirmed earlier this week that they agreed to end a partnership begun last August that involved Target offering Best Buy’s Geek Squad services at 29 stores in Minneapolis and Denver. Earlier this year, Target ended a more extensive relationship with RadioShack that involved

April 4, 2013
Target team members get a new place for lunch/dinner

Asian fusion restaurant Ling & Louie's Kitchen is coming to Minneapolis and it will be located across the street from Target’s headquarters on Nicollet Mall.

Asian fusion restaurant Ling & Louie's Kitchen is coming to Minneapolis and it will be located across the street from Target’s headquarters on Nicollet Mall.

Normally, a restaurant opening in Minneapolis wouldn’t qualify as retail industry news. However, an exception can be made when the location is across the street from Target’s bustling downtown headquarters where it is likely to become the new hot spot for employees at Target as well as supplier companies who populate nearby buildings.

March 29, 2013
Study: Mass merchants target diverse consumer group with private label offerings

Walmart and Target are targeting multi-cultural and health-conscious consumers with their private-label products directed at multicultural and health-conscious consumers.

ROCKVILLE, Md. — Walmart and Target are targeting multi-cultural and health-conscious consumers with their private-label products directed at multicultural and health-conscious consumers.

March 24, 2013
Target debt for sale

Target announced that it will sell off about $209.3 million worth of debt as the company moves to refinance $679 million worth of debt due between 2028 and 2031, the mass merchandise retailer said.

MINNEAPOLIS — Target announced that it will sell off about $209.3 million worth of debt as the company moves to refinance $679 million worth of debt due between 2028 and 2031, the mass merchandise retailer said.

Target announced plans to purchase $170 million in 6.75% debentures due 2028, $154.9 million in 6.65% debentures due 2028 and $354 million in 7% debentures due 2031.

The company said the $209.3 million tendered so far represented 20.31%, 25.22% and 38.32% of the totals of the three respective security titles.

 

 

March 14, 2013
Kennedy assumes new finance role at Target

Scott Kennedy was named president of Target financial and retail service to replace long time finance executive Terry Scully.

Scott Kennedy was named president of Target financial and retail service to replace long time finance executive Terry Scully.

Scully spent nearly 35 years with Target and is moving into a strategic advisory role to ensure the smooth transition of the recently sold credit card portfolio to TD Bank Group. Scully, 60, will officially retire in March 2014. Filling his shoes as head of financial and retail services is Scott Kennedy, 44. He joined Target in 2005 and currently serves as VP of pay and benefits.

March 14, 2013
Target names new board members

Senior executives from Yahoo! and Ecolab are the newest members of the board of directors at Target.

Senior executives from Yahoo! and Ecolab are the newest members of the board of directors at Target.

The retailer late Wednesday announced the addition of Douglas M. Baker, Jr., chairman and CEO of Ecolab Inc., and Henrique De Castro, COO of Yahoo! Inc., to its board, effective immediately.

Baker, 54, is a 24-year veteran at St. Paul, Minn.-based Ecolab. Prior to being named president and CEO in July 2004, Baker held key roles in marketing, sales and general management in both the U.S. and Europe. He became chairman in May 2006.

March 14, 2013
Target sweetens portfolio with Chefs Catalog purchase

Target has agreed to buy Chefs Catalog from JH Partners, LLC, a private equity firm specializing in investing growth capital in consumer-focused companies.

SAN FRANCISCO — Target has agreed to buy Chefs Catalog from JH Partners, LLC, a private equity firm specializing in investing growth capital in consumer-focused companies. 

Chefs Catalog is a leading direct-to-consumer specialty retailer of top-rated cookware, bake ware, cutlery, kitchen tools and cooking utensils including such brands as All-Clad, Cuisinart and Kitchenaid.  JH Partners acquired Colorado Springs, Colorado-based Chefs Catalog from The Neiman Marcus Group, Inc. in 2004. 

March 11, 2013
New Target collection feeds need for fashion and hunger relief

Target has partnered with FEED Projects, a social business founded by Lauren Bush Lauren, to create the FEED USA + Target collection. The limited-time-only collection will include more than 50 stylish products and benefit Feeding America, the nation’s leading domestic hunger-relief charity.

MINNEAPOLIS — Target has partnered with FEED Projects, a social business founded by Lauren Bush Lauren, to create the FEED USA + Target collection. The limited-time-only collection will include more than 50 stylish products and benefit Feeding America, the nation’s leading domestic hunger-relief charity. The products will be available beginning June 30 at Target stores and on Target.com.

March 6, 2013
Target challenges developers to create a new mobile experience

Target has teamed up with Fast Company to launch Co.Labs & Target Retail Accelerator, a contest for developers to create a new mobile experience for Target and claim a $75,000 grand prize.

NEW YORK and MINNEAPOLIS — Target has teamed up with Fast Company to launch Co.Labs & Target Retail Accelerator, a contest for developers to create a new mobile experience for Target and claim a $75,000 grand prize. Fast Company will chronicle the developers' efforts on its new technology vertical Co.Labs.

February 28, 2013
Amazon, Target, Whole Foods among most admired companies

Amazon lead the pack in the retail field on Fortune’s “Most Admired Companies” list. The e-commerce juggernaut was third ranked overall (behind Apple and Google) for, among other reasons, its efficient customer service and leadership under CEO Jeff Bezos.

Amazon lead the pack in the retail field on Fortune’s “Most Admired Companies” list. The e-commerce juggernaut was third ranked overall (behind Apple and Google) for, among other reasons, its efficient customer service and leadership under CEO Jeff Bezos.

Nordstrom captured the number 16 spot for generating buzz for its first full-line retail store in Manhattan, well before its planned open date in 2018 and for its successful clearance brand, Nordstrom Rack.

February 15, 2013
Target contest engages fans with Mindless Behavior

Target has partnered with pop music group Mindless Behavior to let fans write lyrics for the band, the mass merchandise retailer said Thursday.

MINNEAPOLIS — Target has partnered with pop music group Mindless Behavior to let fans write lyrics for the band, the mass merchandise retailer said Thursday.

The contest, called "Your Lyrics, Their Voices," gives fans the opportunity to write their own song lyrics for a verse of a special fan edition of the title track for the album "All Around the World."

February 7, 2013
Comps rise 3.1% as Target releases final monthly results

Target salvaged its fourth quarter with a 3.1% increase in January same store sales that followed disappointing results in December and November.

Target salvaged its fourth quarter with a 3.1% increase in January same store sales that followed disappointing results in December and November.

Target said sales for the five weeks ended February 2, increased 29.6% to nearly $6 billion due to the inclusion of an extra week in the recent reporting period.

January 30, 2013
Amazon, Target, Lowe's have consumers buzzing

Amazon, which gained attention for its expanded Kindle line and growing e-commerce footprint, captured the second spot on BrandIndex's list of most buzzed about U.S. brands for 2012.

Amazon, which gained attention for its expanded Kindle line and growing e-commerce footprint, captured the second spot on BrandIndex's list of most buzzed about U.S. brands for 2012.

Lowe's and Target were the only traditional retailers to make the top 10. Lowe's moved up one spot to the number five position, thanks to the launch of MyLowes.com and better-equipped staff. Target captured the number seven spot with the help of its remodeling program and year-round exclusives.

Other retailers in the top 25 include Walgreens (13), Home Depot (18) and Kohl's (25).

January 28, 2013
Target gets fresh in Detroit

Target's remodeling effort has made its way to Detroit. The company announced Monday that it will add fresh grocery to stores in the area.

MINNEAPOLIS — Target's remodeling effort has made its way to Detroit. The company announced Monday that it will add fresh grocery to stores in the area.

In addition to featuring a large selection of affordable fresh foods, the new layout will include reinventions in several other departments such as beauty, home, shoes and baby, aimed at providing guests with an exceptional one-stop shopping experience.

January 14, 2013
Target turns to Brightstar and MarketSource for mobile

Target is relying on two new services providers to operate its mobile business following an end to its short-lived relationship with RadioShack.

Target is relying on two new services providers to operate its mobile business following an end to its short-lived relationship with RadioShack.

January 8, 2013
Target touts expanded price match policy

Online prices are now part of Target’s "low price promise" following an adjustment to the three year old price matching program.

Online prices are now part of Target’s "low price promise" following an adjustment to the three year old price matching program.

January 4, 2013
Equality advances evident at retail and CPG

Nineteen of the nation’s leading retail and CPG companies received perfect scores on the 2013 Corporate Equality Index compiled by the Human Rights Campaign.

Nineteen of the nation’s leading retail and CPG companies received perfect scores on the 2013 Corporate Equality Index compiled by the Human Rights Campaign.

The Human Rights Campaign released its 2013 Corporate Equality Index, which gives companies ratings of up to 100% based on their policies regarding LGBT employees and also released a buyer's guide for LGBT consumers. According to the equality advocacy group, a total of 1,848 companies were invited to submit applications, of those 530 actually did so and of those 252 received scores of 100%.

January 3, 2013
Christmas sales soft at Target

Weaker than expected December sales at Target will cause fourth quarter profits to come in at the low end of an earlier forecast, the company said.

Weaker than expected December sales at Target will cause fourth quarter profits to come in at the low end of an earlier forecast, the company said.

Sales at Target for the five week period ended December 31, increased 0.8% to $10.2 billion while same store sales were essentially flat, below the company’s guidance which called for an increase in the low single digits. The performance was driven by a low single digit decrease in comparable store transactions, offset by an increase in average transaction size.