NEW YORK — Target Corp. has reached an $18.5 million settlement with 47 states and the District of Columbia over the retailer’s 2013 data breach, New York’s attorney general said Tuesday. The breach, which Target has said occurred between November 27 and December 15, 2013, affected more than 41 million customer payment card accounts and
MINNEAPOLIS — Target Corp. today said net income increased to $681 million, or $1.23 a share, in the first quarter, a 7.7% increase from $632 million, or $1.05 a share, reported a year ago. Same-store sales slid 1.3% in the period, as store traffic continued to decline. Overall revenue fell 1.1% to $16 billion, down
MINNEAPOLIS — Target Corp.’s chief innovation and strategy officer Casey Carl reportedly plans to leave the company, effective May 5. Carl was the executive in charge of imagining the future of retailing at Target, according to a report in the Minneapolis Star Tribune newspaper, which noted that many of his projects, including a store-of-the-future concept
MINNEAPOLIS — Target Corp. has unveiled the elements of a redesign aimed at creating a faster, easier experience for a shopper running an errand while encouraging those not in a rush to linger in the aisles. The retailer expects its first fully re-imagined store will open this fall in a Houston suburb. In addition, 40
MINNEAPOLIS — Target Corp. has named Jeff Burt senior vice president of grocery, fresh food and beverage. Burt joins Target from Kroger Co., where he most recently served as president of the Fred Meyer division. He assumed his new post effective April 10. In this role, Burt will be charged with helping to advance and
NEW YORK — Target Corp. vowed to update hundreds of stores and make other investments in its business after it delivered a disappointing 2016 in terms of sales and earnings. The Minneapolis-based company pledged to spend $7 billion over the next three years to remodel more than 600 of its 1,800 stores, accelerate the expansion
MINNEAPOLIS — Target Corp. on Monday announced the appointment of Jeff Burt as senior vice president, grocery, fresh food and beverage. Burt joins Target from Kroger Co., where he most recently served as president of the Fred Meyer division. He will assume his new post effective April 10. In this role, Burt will be charged
MINNEAPOLIS — Target Corp. on Tuesday reported a profit of $817 million, or $1.45 a share, in its fourth quarter, down from $1.43 billion, or $2.32 a share, a year earlier, when the retailer sold its pharmacy business to CVS Health. Same-store sales declined 1.5% in the fourth quarter. For 2017, the company forecasts per-share
NEW YORK — Target Corp. has embraced the notion that if it is going to win in retail, it needs to be a great place for computer engineers to work, remarked Mike McNamara, the man hired 18 months ago to oversee the company’s digital strategy. “I’ve believed for a long time that the supply chain
MINNEAPOLIS — Rick Gomez has been promoted to executive vice president and chief marketing officer at Target Corp., effective January 29. Gomez, who has been senior vice president of brand and category marketing, succeeds Jeff Jones, who had left the company to join Uber Technologies Inc. Gomez will be responsible for furthering Target’s brand positioning
MINNEAPOLIS — Target Corp. this month announced plans for its fourth small-format store in the Greater Boston area, the latest development in the retailer’s plan to reconfigure its real estate footprint via the addition of hundreds of “flexible format” stores in the coming years. Target is planning to put a 48,000-square-foot store in a shopping
MINNEAPOLIS — Target Corp. believes that its smaller stores represent a big opportunity. The retailer’s flexible format — which allows for stores that range in size from 20,000 square feet to more than 100,000 square feet — is allowing the retailer to expand into urban neighborhoods and college towns, as well into densely populated suburban