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Target chairman and CEO Brian Cornell

Target to add paid membership program

Target to add paid membership program

MINNEAPOLIS—As part of a revamp of its customer loyalty program, Target is launching a new paid membership program called Target Circle 360. The program, set to launch on April 7, includes unlimited free same-day delivery for orders over $35 in as little as an hour with no delivery fees or markups, free two-day shipping, access

Target’s earnings top expectations, but sales lag

Target’s earnings top expectations, but sales lag

MINNEAPOLIS — Target reported fourth-quarter sales and earnings that beat analyst expectations, boosting its shares in pre-market trading. But total sales for the year declined, the company said. Target reported that GAAP and adjusted earnings per share of $2.98 was 57.6% higher than last year, and well-above the high end of the expected range of

Target cuts sales forecast for holiday season

Target cuts sales forecast for holiday season

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

Target CEO Cornell to stay on, Valdez to retire

Target CEO Cornell to stay on, Valdez to retire

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

NRF to honor Target’s Cornell with Visionary award

NRF to honor Target’s Cornell with Visionary award

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

Digital sales gains drive growth at Target

Digital sales gains drive growth at Target

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

Target reconfigures executive team

Target reconfigures executive team

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

Target adds safety measures for holiday shopping

Target adds safety measures for holiday shopping

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

Target posts strong sales, profit gains in Q2

Target posts strong sales, profit gains in Q2

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

Target makes social justice pledge

Target makes social justice pledge

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,

Target sees strong sales gains in Q1

Target sees strong sales gains in Q1

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,