Content about Target Corp.

April 24, 2013
Target to give 25 school libraries makeover

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
Target's slight earnings increase impacted by Canadian costs

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 to seek LEED certification for all 2013 Canadian stores

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 unveils holiday gift card assortment; includes digital option

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
'Revenge' is sweeter with first-ever Target and Neiman Marcus advertising integration

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 to give away 1.5 million reusable bags on Earth Day

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
Retailers raise outlook on better-than-expected March sales

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’s Jason Wu collection a sell-out

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
Discounters post solid results for January

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 holds off sale of credit card business

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
Discounters and department stores turn in mixed results for December

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 future uncertain following CFO retirement

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
Discounters post strong results in September

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
Seasonal campaign celebrates second birthday

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 to invest more than planned to enter Canada

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
Report: Woman seeks class-action against Target over debt-collection methods

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 looks to top $100 billion sales mark boosted by Canada stores revenue

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 makes changes to corporate donation policy

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.

January 14, 2011
CMO to oversee Target's Canadian venture

Target announced that its chief marketing officer, Michael Francis, will serve as the executive committee sponsor of Target’s entrance into the Canadian market. In this role, Francis will oversee the extension of Target’s brand as part of the corporation’s first-ever expansion of its stores beyond the United States, the company reported.

MINNEAPOLIS  —Target announced that its chief marketing officer, Michael Francis, will serve as the executive committee sponsor of Target’s entrance into the Canadian market.  In this role, Francis will oversee the extension of Target’s brand as part of the corporation’s first-ever expansion of its stores beyond the United States, the company reported. 

January 13, 2011
Target sets sights on Canada

Just days after announcing 2011 U.S. expansion plans, Target announced an acquisition in Canada that will enable it to open between 100 and 150 stores during the next four years.

MINNEAPOLIS - Just days after announcing 2011 U.S. expansion plans, Target announced an acquisition in Canada that will enable it to open between 100 and 150 stores during the next four years. The company announced that it has agreed to pay C$1.825 billion to purchase from Zellers Inc., a subsidiary of the Hudson's Bay Company, the leasehold interests in up to 220 sites currently operated by Zellers Inc. This transaction will allow Target to open its first Target stores in Canada beginning in 2013. 

December 1, 2010
Discounters and warehouse clubs beat expectations in November

The nation’s discount retailers and warehouse club operators posted strong sales in November, beating analysts’...

August 24, 2010
PacSun in exclusive license agreement with MODERN AMUSEMENT

Pacific Sunwear of California has announced that it has entered into an exclusive agreement to...