Content about Target News Now

May 13, 2013
Target gets in on superhero action

Target has become the latest retailer to get its geek on. The discount retailer has teamed up with Warner Bros. Consumer Products, in partnership with DC Entertainment, and will launch an extensive summer collection of exclusive Justice League merchandise.

MINNEAPOLIS — Target has become the latest retailer to get its geek on. The discount retailer has teamed up with Warner Bros. Consumer Products, in partnership with DC Entertainment, and will launch an extensive summer collection of exclusive Justice League merchandise. 

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
A "Target bump" for Canadian designer

Toronto native Sarah Stevenson won a design contest this week and with it the right to design a collection of a dozen pieces that will be featured in Target’s Canadian stores.

Toronto native Sarah Stevenson won a design contest this week and with it the right to design a collection of a dozen pieces that will be featured in Target’s Canadian stores.

A report in the Wall Street Journal referred to the boost that is expected to result from Stevenson’s selection as the winner of the Toronto Fashion Incubator’s annual design contest as the "Target bump."

May 1, 2013
Social media firm growing in Minneapolis

Social shopper media firm Collective Bias may have been founded in Walmart’s home town of Bentonville, Ar., but the firm has big plans to help suppliers to Target achieve their social media objectives.

Social shopper media firm Collective Bias may have been founded in Walmart’s home town of Bentonville, Ar., but the firm has big plans to help suppliers to Target achieve their social media objectives.

Collective Bias established a presence in Minneapolis last year and more recently tapped Kristen Brown to lead the firm’s growth efforts. Brown spent five years with NPD in the company’s Minneapolis office where she served as retail insights director. She is also a best-selling author and motivational coach.

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 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.

April 23, 2013
Saints quarterback a natural fit for Wrangler

Wrangler has drafted New Orleans Saints quarterback Drew Brees to endorse its denim brand.

GREENSBORO, N.C. — Wrangler has drafted New Orleans Saints quarterback Drew Brees to endorse its denim brand.

One of the most decorated and respected quarterbacks in the NFL, Brees joins Dale Earnhardt Jr. and Brett Favre as brand ambassadors. He will be featured in upcoming marketing campaigns, scheduled to launch in August.

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 12, 2013
Target accepts $760.7 million of debt for purchase

Target has accepted for purchase $760.7 million worth of debt as part of a $1.1 billion debt-refinancing plan announced last month, the mass merchandiser said.

MINNEAPOLIS — Target has accepted for purchase $760.7 million worth of debt as part of a $1.1 billion debt-refinancing plan announced last month, the mass merchandiser said.

The company announced plans in mid-March to purchase up to more than $1.1 billion worth of debt securities and will pay close to the full amount for those accepted for purchase.

The offer to purchase the debt from the people holding it expired Wednesday night at 11:59, the company said.

 

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
Hunger heroes include Target

Target was among six companies recognized by Second Harvest Heartland, a member of Feeding America, as one of the relief organization’s Hunger Heroes.

Target was among six companies recognized by Second Harvest Heartland, a member of Feeding America, as one of the relief organization’s Hunger Heroes.

April 4, 2013
Social media fans land on Target site

Jen Coleman and Laura Wiertzema are such big fans of Target they created a blog on Tumblr called "Target Does It Again," and regularly post photo on Instagram. The company took notice this week.

Jen Coleman and Laura Wiertzema are such big fans of Target they created a blog on Tumblr called "Target Does It Again," and regularly post photo on Instagram. The company took notice this week.

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 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 18, 2013
Target readies Canadian stores for opening

Target will soft open 21 locations across Southwestern Ontario, including 17 locations on March 19 and four locations on March 28.

MISSISSAUGA, Ontario — Target will soft open 21 locations across Southwestern Ontario, including 17 locations on March 19 and four locations on March 28.  The soft openings follow the launch of three pilot stores and will allow Target to continue to engage in volume testing ahead of grand opening in early April. The 21 new locations are in addition to pilot stores in Guelph, Milton and Fergus, and will complete the 24 stores scheduled to open in March. Target plans to open 124 stores across Canada throughout 2013.

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 13, 2013
Target Canada off on right note with Bublé partnership

Target Canada has announced its first entertainment sponsorship with three-time Grammy award-winning singer and songwriter Michael Bublé.

TORONTO — Target Canada has announced its first entertainment sponsorship with three-time Grammy award-winning singer and songwriter Michael Bublé. The retailer will sell an exclusive deluxe edition of Bublé's highly anticipated sixth studio album, "To Be Loved."  The exclusive version of the album, featuring three bonus tracks, will hit stores April 22 and continue to be available as Target stores open across Canada throughout 2013.

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 7, 2013
Union claims Target Canada engaged in unfair hiring practices

The Canadian arm of the United Food and Commercial Workers union has taken aim at Target for its alleged unfair treatment of former Zellers workers.

TORONTO, ONTARIO —  The Canadian arm of the United Food and Commercial Workers union has taken aim at Target for its alleged unfair treatment of former Zellers workers.

The union claims that Target, which is converting 189 Zellers stores, is not giving former employees a fair shake in the hiring process and that many have been turned down for employment without reason.

March 4, 2013
Target Canada opens three pilot stores

As Target's Canadian debut draws near, the company announced that it is opening three pilot stores in Ontario on March 5 at Stone Road in Guelph, Milton Mall Shopping Centre in Milton and Gates of Fergus in Fergus.

MISSISSAUGA, Ontario — As Target's Canadian debut draws near, the company announced that it is opening three pilot stores in Ontario on March 5 at Stone Road in Guelph, Milton Mall Shopping Centre in Milton and Gates of Fergus in Fergus. The three pilot stores are the first Target locations to open in Canada, and the first of 124 Target stores that will open across the country throughout 2013.

February 28, 2013
Target goes big in Canada

Target is planning a rollout in Canada that will be bigger than any single year's worth of its store openings in the United States ever, executives of the company said Wednesday morning in a call with Wall Street analysts to discuss the mass merchandise retailer's fourth-quarter and full-year 2012 results.

MINNEAPOLIS — Target is planning a rollout in Canada that will be bigger than any single year's worth of its store openings in the United States ever, executives of the company said Wednesday morning in a call with Wall Street analysts to discuss the mass merchandise retailer's fourth-quarter and full-year 2012 results.