MINNEAPOLIS — Target Corp.’s shares fell in early trading on Wednesday, after the company reported softening sales and a drop in earnings for its fiscal third quarter. Target reported that its comparable sales increased 2.7% in the quarter, on top of 12.7% growth in last year’s quarter. That performance was led by growth in such
MINNEAPOLIS — Brian Cornell has committed to stay on as chairman and chief executive officer at Target for about three more years, beyond the retailer’s traditional retirement age of 65, the company said on Wednesday. But Arthur Valdez, executive vice president and chief supply chain and logistics officer, does plan to retire from Target. He
MINNEAPOLIS — Target had another good year in 2021. The company delivered $106 billion in total revenue for the year, having grown nearly $28 billion, or more than 35%, over the past two years. Comparable sales grew 12.7%, on top of a 19.3% increase in 2020. Target also said that earnings per share in the
WASHINGTON – The National Retail Federation said Tuesday that Target chairman and CEO Brian Cornell will receive its “The Visionary” award. The award will be presented during the seventh annual NRF Foundation Honors on January 16 in New York City. “Brian Cornell’s purpose-driven leadership and strategic vision reflect an unwavering commitment to his team, and
MINNEAPOLIS — Target Corp. reported comparable digital sales growth of 118% in the fourth quarter, accounting for two-thirds of the company’s overall comp sales growth for the period. Overall comp-store sales increased by 20.5%, while comp-store sales in physical stores grew by 6.9%, the company said on Tuesday. Sales for the three months ended January
MINNEAPOLIS — Target Corp. has named a new chief growth officer in one of a number of leadership changes the company announced on Tuesday. “At the core of Target’s success is the most talented team in retail,” Target chairman and CEO Brian Cornell said, chairman and CEO, Target. “The depth of expertise across Target’s leadership
MINNEAPOLIS — Target Corp. is rolling out new safety measures for the holiday shopping season, the company said on Thursday. “Year over year, the investments we’ve made in our business and team have made Target the easiest place to shop in America.” Target CEO Brian Cornell said in a statement. ” As we’ve navigated the
MINNEAPOLIS — Target Corp. reported record same-store sales gains in its second fiscal quarter, driven by a digital sales gain of 195%, the company announced on Wednesday. The retailer said its results reflect the continuation of heightened sales volume due to the COVID-19 pandemic. Target reported GAAP earnings per share (EPS) from continuing operations of
MINNEAPOLIS — Target has commited an additional $10 million, on top of its ongoing efforts, to advance social justice and support rebuilding and recovery efforts. “Target stands with Black families, communities and team members,” Target chairman and CEO Brian Cornell said on Friday. “As we face an inflection point in Minneapolis and across the country,
MINNEAPOLIS — Target beat sales expectations in the first quarter, with total revenue that grew 11.3% compared to last year. Earnings fell as consumers spent less on higher margin products like apparel, and the retailer boosted wages and spending on safety measures related to COVID-19. Target’s total comparable sales grew 10.8% in the first quarter,
MINNEAPOLIS — Target Corp. said on Wednesday that it is slowing the pace of remodels and new store openings as it focuses on dealing with the surge in store traffic and sales associated with the COVID-19 outbreak. “We are prioritizing the work that’s in front of us to support our team, store operations and supply
MINNEAPOLIS — Target Corp. said Friday that it will invest more than $300 million in wage increases, a new paid leave program, bonus payouts and relief fund contributions. “With each passing day, it’s clearer how indispensable our team is to communities across the country as our guests cope with the coronavirus,” Target CEO Brian Cornell