Content about Target Corp.

December 16, 2014

Target Corp. is targeting last-minute holiday shoppers by offering promotions to customers in need of pickup or delivery, and to users of the retailer's Cartwheel app. 

Target Corp. is targeting last-minute holiday shoppers by offering promotions to customers in need of pickup or delivery, and to users of the retailer's Cartwheel app.

Cartwheel users will get 50% off a different toy every day until Dec. 24. Also, from now until Christmas, Cartwheel will feature more than 150 offers at 25% off or more.

Orders placed at Target.com through Dec. 20 can still be delivered by Christmas. After Saturday, Customers can use Target’s Store Pickup option.

December 3, 2014

A federal judge says several banks suing Target Corp. over its 2013 data breach have a plausible case for negligence and can proceed with the lawsuit.

A federal judge says several banks suing Target Corp. over its 2013 data breach have a plausible case for negligence and can proceed with the lawsuit.

July 10, 2013

Target Corp. appointed former senator and secretary of the interior Kenneth Salazar to its board of directors. He replaces Mary Dillon, who resigned her spot.

Target Corp. appointed former senator and secretary of the interior Kenneth Salazar to its board of directors. He replaces Mary Dillon, who resigned her spot. 

Salazar, who recently began working for the law firm WilmerHale, served as a Democratic member of the Senate from Colorado from 2005 to 2009 and as interior secretary under the Obama administration from 2009 until earlier this year, when he was replaced by Sally Jewell. 

July 8, 2013

Department store executive and Target co-founder Douglas Dayton died Saturday of cancer at 88.

Department store executive and Target co-founder Douglas Dayton died Saturday of cancer at 88.

Dayton was the inspiration for the first Target stores and oversaw the development and early growth of the concept of an upscale discount store. Dayton served as Target's first president in 1961 and a year later he opened the first Target stores in the Twin Cities communities of Roseville, Crystal, St. Louis Park and Knollwood.

July 3, 2013

Target Corp. has appointed former senator and secretary of the interior Kenneth Salazar to its board of directors. He replaces Mary Dillon, who resigned from the board last month after being named CEO of Ulta Beauty.

MINNEAPOLIS — Target Corp. has appointed former senator and secretary of the interior Kenneth Salazar to its board of directors. He replaces Mary Dillon, who resigned from the board last month after being named CEO of Ulta Beauty.

Salazar, who recently began working for the law firm WilmerHale, served as a Democratic member of the Senate from Colorado from 2005 to 2009 and as interior secretary under the Obama administration from 2009 until earlier this year, when he was replaced by Sally Jewell. 

June 24, 2013

Target has announced that former PepsiCo and U.S. Cellular executive Mary N. Dillon has resigned from its board of directors. Dillon has sat on the board since 2007.

Ulta Beauty announced that Mary Dillon will be the company's new CEO. She begins her new role July 1, at which time interim CEO Dennis Eck will step down.

Eck has been interim CEO since February, when Chuck Rubin stepped down as president, CEO and director to become CEO at arts and crafts specialty retailer Michaels.

May 22, 2013

Colder weather and more conservative shoppers contributed to a drop in Target Corp.'s first quarter 2013 profits, but the company's underlying business remains healthy, executives said Wednesday morning in a conference call with investors.

MINNEAPOLIS — Colder weather and more conservative shoppers contributed to a drop in Target's first quarter 2013 profits, but the company's underlying business remains healthy, executives said Wednesday morning in a conference call with investors.

"While we are not satisfied with this quarter's performance, we remain highly confident in our strategy," president, chairman and CEO Gregg Steinhafel said during the call.

April 24, 2013

Target Corp. will renovate libraries at more than two dozen schools in need across the country this year under a program that will also include book donations and technology upgrades, as well as the option to have a Target-supported food pantry built, the mass merchandise retailer said Wednesday.

MINNEAPOLIS — Target Corp. will renovate libraries at more than two dozen schools in need across the country this year under a program that will also include book donations and technology upgrades, as well as the option to have a Target-supported food pantry built, the mass merchandise retailer said Wednesday.

February 27, 2013

Start-up expenses and other costs related to its Canadian entry reduced Target's earnings per share for the fourth quarter by approximately 18 cents.

MINNEAPOLIS — Start-up expenses and other costs related to its Canadian entry reduced Target's earnings per share for the fourth quarter by approximately 18 cents.

The company reported fourth quarter net earnings of $961 million, or $1.47 per share, compared with $1.45 per share for the same period last year. Adjusted earnings per share, a measure the company believes is useful in providing period-to-period comparisons of the results of its U.S. operations, were $1.65 in fourth quarter 2012, up 10.1% from $1.49 in 2011.

November 14, 2012

Target Corp. announced it is pursuing Leadership in Energy & Environmental Design (LEED) certification for all Canadian stores opening in 2013.

Toronto -- Target Corp. announced Wednesday it is pursuing Leadership in Energy & Environmental Design (LEED) certification for all Canadian stores opening in 2013.

Design plans include conserving energy and water, reducing greenhouse gas emissions and limiting waste sent to landfill, among other features.

November 5, 2012

Target Corp. unveiled its lineup of gift cards for the upcoming holiday season.

MINNEAPOLIS — Target Corp. unveiled its lineup of gift cards for the upcoming holiday season. The expanded assortment, which include traditional gift cards with holiday and multicultural designs, and digital options, will be available in stores on Nov. 4.

October 17, 2012

Target Corp. and The Neiman Marcus Group will promote their upcoming joint holiday collection by serving as the sole sponsors of the mid-season finale of the hit ABC television show “Revenge.”

MINNEAPOLIS — Target Corp. and The Neiman Marcus Group will promote their upcoming joint holiday collection by serving as the sole sponsors of the mid-season finale of the hit ABC television show “Revenge.”

In place of standard broadcast commercials, the retailers are working directly with the creative team of “Revenge” to create original content incorporating the Target and Neiman Marcus holiday collection. The show will air on Nov. 11.

April 16, 2012

Target Corp. will celebrate Earth Day by distributing 1.5 million reusable bags in all of its stores on April 22.

MINNEAPOLIS — Target Corp. will celebrate Earth Day by distributing 1.5 million reusable bags in all of its stores on April 22.

In addition, Target will offer guests simple, sustainable solutions and more than $50 in savings on sustainable products throughout April in our stores and via a limited-time website. The retailer also will partner with Recyclebank, an organization that promotes sustainable decisions by allowing individuals to earn rewards for actions like recycling and reducing water use.

April 5, 2012

Target Corp., The TJX Cos., and Ross Stores reported stronger-than-expected March sales as warm weather put consumers in a spending mood. Both retailers also revised their first-quarter outlooks upward on the results.

NEW YORK — Target Corp., The TJX Cos., and Ross Stores reported stronger-than-expected March sales as warm weather put consumers in a spending mood. Both retailers also revised their first-quarter outlooks upward on the results.

Target said its same-stores sales rose 7.3% in March, helped by warm weather. Analysts had predicted a 5.4% increase.

February 7, 2012

Target Corp.’s launch of its latest limited edition collection, by designer Jason Wu, went off relatively problem-free compared with its Missoni launch last fall.

NEW YORK — Target Corp.’s launch of its latest limited edition collection, by designer Jason Wu, went off relatively problem-free compared with its Missoni launch last fall.

February 2, 2012

The nation’s discount chains reported solid results for January, with Target Corp., TJX Cos., and Costco Wholesale Corp. all reporting gains above expectations.

NEW YORK — The nation’s discount chains reported solid results for January, with Target Corp., TJX Cos., and Costco Wholesale Corp. all reporting gains above expectations. Overall, discounters reported stronger results than department stores, which appeared to take a greater hit due to the unseasonably warm weather and heavy promotions.

As the first month of the year, January accounts for only 20% Nov. through Jan. sales, and 7% of annual sales, according to RetailMetrics.

January 18, 2012

Target announced that it has temporarily suspended its efforts to sell its credit card receivables portfolio.

MINNEAPOLIS — Target announced that it has temporarily suspended its efforts to sell its credit card receivables portfolio. The company said it remains committed to selling the portfolio on appropriate terms, but based on discussions with potential partners the company has determined that it is not in its best interests to finalize a transaction at this time.

January 5, 2012

The nation’s discounters and department store retailers turned in mixed results for December, with many chains citing unseasonably warm weather that sapped demand for cold-weather merchandise.

NEW YORK — The nation’s discounters and department store retailers turned in mixed results for December, with many chains citing unseasonably warm weather that sapped demand for cold-weather merchandise.

“Cold-weather categories, which are highly profitable and represent approximately 25% of our business in December, were down mid-teens on a percentage basis,” said Tony Buccina, vice chairman, president – merchandising, The Bon-Ton Stores, whose December same-store sales fell 0.7%. The company widened its loss forecast.

November 1, 2011

Target announced that Doug Scovanner will retire as EVP and CFO on March 31, 2012.

MINNEAPOLIS — The unexpected announcement that Target EVP and CFO Doug Scovanner will retire on March 31, 2012 has investors speculating about the reasons for his departure following the recent exit of other key executives.

Analysts at Bernstein Research pointed to the fact that no successor has been named, suggesting that the retirement was not a long planned for event. However, the firm said it believes that despite the unexpected news, this appears to be a true retirement and doesn't anticipate seeing Scovanner in a CFO role at another major company.

October 6, 2011

Costco Wholesale Corp. turned in a strong September performance, leading the category with a 12% rise in same-store sales for the month.

NEW YORK — Costco Wholesale Corp. turned in a strong September performance, leading the category with a 12% rise in same-store sales for the month. Wall Street expected a 10.1% rise. However, the warehouse club operator cautioned that margins were negatively impacted during the period and that it would be raising its membership fees to compensate.

Target Corp., helped by strong sales of groceries, beauty products and clothing, saw September same-store sales rise 5.3%, beating the projected 3.9% increase. Sales for the period rose 6.5% to $5.9 billion.

July 18, 2011

Prices were cut on 1,500 items at Target.com last Friday as the retailer executed an online-only Black Friday in July promotion.

Prices were cut on 1,500 items at Target.com last Friday as the retailer executed an online-only Black Friday in July promotion. It was the second consecutive year Target conducted the event which, despite the name, pales in comparison to the real Black Friday, which is an operational nightmare and features extreme discounts on prices retailers would rather not get in the habit of offering at other times of the year.

May 20, 2011

Target Corp. plans to spend more than it had forecast this year on its entry into the Canadian market as it nails down more of the best retail locations sooner than expected.

MINNEAPOLIS — Target Corp. plans to spend more than it had forecast this year on its entry into the Canadian market as it nails down more of the best retail locations sooner than expected.

The retailer said it will be able to “clarify” within weeks the number and locations of the first 100 to 150 stores it will open in Canada.

“We expect to close on higher value lease transactions sooner than expected,” Target CFO Doug Scovanner told analysts on a conference call.

April 22, 2011

A Western Pennsylvania woman filed a federal lawsuit last week against Target Corp. and its law firm over the chain's debt-collection practices, the Associated Press reported. The woman claims false affidavits were used to go after customers who allegedly owed money to a subsidiary bank that issues the store's credit cards.

NEW YORK -- A Western Pennsylvania woman filed a federal lawsuit Wednesday against Target Corp. and its law firm over the chain's debt-collection practices, the Associated Press reported. The woman claims false affidavits were used to go after customers who allegedly owed money to a subsidiary bank that issues the store's credit cards.

February 25, 2011

Target Corp. said its annual sales may top $100 billion within the next seven years, with revenue boosted by its first expansion outside the United States, Bloomberg reported.

NEW YORK -- Target Corp. said its annual sales may top $100 billion within the next seven years, with revenue boosted by its first expansion outside the United States, Bloomberg reported.

The chain also may double earnings per share over that period, CFO Douglas Scovanner said Thursday on a conference call after fourth-quarter results. Net income in the period ended Jan. 29 rose 11% to $1.04 billion.

February 18, 2011

Target Corp. has updated its corporate donation policy following a corporate review that occurred in the wake of the backlash surrounding the company’s $150,000 donation last summer to a group that ran ads supporting Minnesota gubernatorial candidate Tom Emmer, according to the Minneapolis/St.Paul Buisness Journal. The donation resulted in much controversy for the chain due to Emmer’s anti same-sex marriage stand.

NEW YORK -- Target Corp. has updated its corporate donation policy following a corporate review that occurred in the wake of the backlash surrounding the company’s $150,000 donation last summer to a group that ran ads supporting Minnesota gubernatorial candidate Tom Emmer, according to the Minneapolis/St.Paul Buisness Journal. The donation resulted in much controversy for the chain due to Emmer’s anti same-sex marriage stand.