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May 7, 2013
Brand Value: Some Lose Their luster

One hundred and forty one billion dollars. That's the estimated brand value of Walmart, according to Interbrand's "Best Global Brands" report. The annual study ranks the 50 most valuable U.S. retail brands, along with the top store brands in countries around the world.

May 6, 2013
Target opens 24 stores in Western Canada in May

Target announced the soft opening dates for 24 locations in Western Canada, with 22 stores opening on May 7 and two opening on May 14.

Mississauga, Ontario -- Target announced the soft opening dates for 24 locations in Western Canada, with 22 stores opening on May 7 and two  opening on May 14.

The openings, which include stores in British Columbia, Alberta and Manitoba, follow the opening of 24 stores across Ontario. As previously announced, Target plans to open 124 stores across Canada throughout 2013.

April 16, 2013
Target warns Q1 profit will fall short of forecast

Target Corp. said it will miss its first-quarter profit outlook as seasonal and weather-sensitive items underperformed.

Minneapolis -- Target Corp. said Tuesday it will miss its first-quarter profit outlook as seasonal and weather-sensitive items underperformed.
 
The retailer also said it now expects same-store sales to be flat in the quarter.

Target’s quarterly results are slated to be reported on May 22.

 

March 11, 2013
Report: Target to end Shops concept

Target Corp. is shuttering — at least for now — its “The Shops at Target” concept, which showcased exclusive goods from select independent boutique retailers within in-store shops in Target stores, the Star Tribune reported.

New York -- Target Corp. is shuttering — at least for now — its “The Shops at Target” concept, which showcased exclusive goods from select independent boutique retailers within in-store shops in Target stores, the Star Tribune reported.

“At this time, we don’t have plans for a future ‘flight’ of the Shops at Target, but we do have a number of collaborations planned for 2013 and beyond,” spokeswoman Katie Boylan said in the report.

March 6, 2013
Target and Fast Company launch mobile competition

Fast Company magazine and Target are sponsoring a competition, the Target Retail Accelerator, that will award $75,000 to a developer who creates the best new mobile app or mobile website for the retailer.

New York -- Fast Company magazine and Target are sponsoring a competition, the Target Retail Accelerator, that will award $75,000 to a developer who creates the best new mobile app or mobile website for the retailer.  

Fast Company will chronicle the developers' efforts on the website of its new technology vertical Co.Labs.

February 27, 2013
Target Q4 slips but tops Street; will open 124 stores in Canada by yearend

Target Corp. reported a profit of $961 million for the fourth quarter, down from $981 million in the year-ago period.

Minneapolis -- Target Corp. reported Wednesday a profit of $961 million for the fourth quarter, down from $981 million in the year-ago period. The profit slip reflected expenses related to its Canadian market entry along with a spending slowdown during the holiday period. It was Target's weakest holiday season performance since 2008. But its adjusted results beat analysts' estimates and it forecast first-quarter earnings above Wall Street's view.

January 25, 2013
Target announces brand and collection line-up for Canadian stores

Target officially unveiled its partners, owned brands and limited-time only collections that will be featured in its Canadian stores, which will start opening in March/April 2013.

Mississauga, Ontario -- Target officially unveiled its partners, owned brands and limited-time only collections that will be featured in its Canadian stores, which will  start opening in March/April 2013.

In addition to Target's ongoing partnerships, the Canadian stores will include an exclusive, limited-time only collaboration with Roots. The new Roots Outfitters collection for Target will offer fashion for women, men, boys, girls and toddlers, and will be available from March to June 2013.

December 17, 2012
Target to open store in Pomona, Calif.

Target announced plans to open a 140,000-sq.-ft. store in Pomona, Calif., in October 2013.

Minneapolis -- Target announced plans to open a 140,000-sq.-ft. store in Pomona, Calif., in October 2013.

To date, Target has announced plans to open 16 Target stores in 2013.

 

November 27, 2012
Target holiday tour across Canada heralds planned store openings

Target will sponsor a tour across Canada that will visit more than 20 communities ahead of the planned opening of its stores in the country, the retailer said Tuesday.

Mississauga, Ontario -- Target will sponsor a tour across Canada that will visit more than 20 communities ahead of the planned opening of its stores in the country, the retailer said Tuesday.

The tour will start in Halifax, Nova Scotia, and conclude in British Columbia in the middle of December. Target plans to open 124 stores in Canada starting in March and April 2013.

October 11, 2012
Target opens C9 store in San Francisco

Target Corp. opened a new retail concept, called C9 Active Apparel, in San Francisco, Women’s Wear Daily and other media outlets reported.

New York -- Target Corp. opened a new retail concept, called C9 Active Apparel, in San Francisco, Women’s Wear Daily and other media outlets reported.

The 3,000-sq.-ft. store is devoted to the C9 by Champion activewear brand, which was launched by Target in 2004. It is located in Westfield’s Metreon center, which also houses a CityTarget store.

The new store has an industrial feel, with concrete flooring and exposed ceiling, according to the reports, with no Target identifying-logo or signage.

 

August 15, 2012
Target profit flat in Q2; raises outlook

Target Corp. reported that profit for the second quarter remained essentially flat at $704 million.

Minneapolis -- Target Corp. reported Wednesday that profit for the second quarter remained essentially flat at $704 million.

Sales advanced 3.5% to $16.45 million, boosted by a 3.1% same-store sales rise in the quarter but missed Wall Street’s expected $16.75 million in revenue.

August 13, 2012
HD: Shop-in-shops: One of the decade's big ideas

The Retail Industry Leaders Association (RILA) has taken issue with an opinion piece that appears in the August 1, 2012, issue of the Wall Street Journal.

From J.C. Penney to Target to Selfridges, retailers across the spectrum are giving over valuable floor space to in-store shops. Here are some interesting observations on the phenomenon from Joanna Felder, VP intelligence and brand strategy at Chute Gerdeman, Columbus, Ohio.

Shop-in-shops offer retailers the magic formula of flexibility, brand-enhancing cachet and the ability to attract new customer segments. The opportunity has never been better for young, entrepreneurial hip brands to find a mainstream home.

July 19, 2012
First CityTarget stores debut July 25

The first of Target’s smaller-format CityTarget urban stores are slated to open on July 25 in Chicago, Los Angeles and Seattle.

Chicago -- The first of Target’s smaller-format CityTarget urban stores are slated to open on July 25 in Chicago, Los Angeles and Seattle.

Two years in the making, the smaller stores will feature broad offerings in a space two-thirds the size of a regular Target store – or 80,000 sq. ft. to 100,000 sq. ft., compared with 135,000 sq. ft. to 175,000 sq. ft.

June 13, 2012
Target CEO details initiatives at annual meeting; 230 remodels and 20 to 25 new stores on tap

Canned peaches, criminal records and political contributions were among the shareholder concerns expressed at Target’s annual meeting on Wednesday afternoon.

New York -- Canned peaches, criminal records and political contributions were among the shareholder concerns expressed at Target’s annual meeting on Wednesday afternoon.

March 29, 2012
Target confirms location of 12 Quebec debut stores

Target Corp. announced the location of its first 12 stores in Quebec.

Minneapolis -- Target Corp. announced Thursday the location of its first 12 stores in Quebec. As previously announced, Target purchased the leasehold interests of 189 sites currently operated by Zellers Inc., and plans to open 125 to 135 stores in Canada, the majority of which will open in 2013.

Target said it intends to announce additional Quebec store locations in the coming months.

Target plans to open stores in the following locations in fall 2013:

March 8, 2012
Target adding expanded food layout to 230 stores

Target Corp. will complete remodels at more than 100 general merchandise Target stores by March 25.

New York -- Target Corp. will complete remodels at more than 100 general merchandise Target stores by March 25. The locations will be the first of three cycles of remodels for Target this year. In total, the chain expects to remodel 230 general merchandise Target stores to incorporate the expanded fresh food layout in 2012.

February 23, 2012
Target reports Q4 profit drop of 5.2%, raises full year outlook

Target Corp. reported that profit for the quarter ended Jan. 28 slid 5.2% to $981 million amid heavy holiday promotional activity.

Minneapolis -- Target Corp. reported Thursday that profit for the quarter ended Jan. 28 slid 5.2% to $981 million amid heavy holiday promotional activity. But the chain is still forecasting a full-year profit outlook that beats analysts’ expectations.

Revenue for the fourth quarter increased 3.3% to $20.94 billion, missing Wall Street’s expected $21.23 billion in revenue. Same-store sales rose 2.2%, below Target expectations.

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 City -- 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.

January 27, 2012
Target names more Canada store locations

Just a few weeks after unveiling the locations of its first 24 stores in Canada, Target released an expanded list of stores that will debut in 2013.

Minneapolis — Just a few weeks after unveiling the locations of its first 24 stores in Canada, Target released an expanded list of stores that will debut in 2013.

The stores listed included two in Alberta, two in British Columbia, 29 in Ontario and one in Saskatchewan. Additional details can be viewed here.

January 13, 2012
Target selects Retalix 10 Store Suite

Retalix Ltd. announced that Target Corp. has selected the Retalix 10 Store Suite as its next-generation store platform for Target's new retail operations in Canada.

New York City -- Retalix Ltd. announced that Target Corp. has selected the Retalix 10 Store Suite as its next-generation store platform for Target's new retail operations in Canada. Retalix 10 is designed as an integrated platform that unifies and streamlines deployment and management of in-store systems to ensure a consistent and personalized shopping experience.

January 12, 2012
Target to test Apple mini-stores in select locations

Target Corp. confirmed that it plans to install Apple mini-boutiques in some of its stores this year.

Minneapolis -- Target Corp. confirmed Thursday that it plans to install Apple mini-boutiques in some of its stores this year. The concept will be tested in 25 locations, and feature a wider assortment of Apple products than is currently available at Target, according to Bloomberg.

January 6, 2012
Target announces first 24 stores in Ontario

Target Corp.’s plan to open 125-135 stores in Canada is rapidly taking shape, as the retailer has released the locations of its first 24 stores in the country.

Minneapolis -- Target Corp.’s plan to open 125-135 stores in Canada is rapidly taking shape, as the retailer has released the locations of its first 24 stores in the country.

As previously announced, Target purchased the leasehold interests of 189 sites currently operated by Zellers Inc.

The majority of Target’s initial two dozen stores will open in early 2013, and include four locations in Toronto (Centrepoint Mall, Cloverdale Mall, Shoppers World Danforth and East York Town Centre).

December 1, 2011
Costco shines in November, Target disappoints

The discount and wholesale club sector was hit and miss in November, as Costco shone with a 9% rise in same-store sales for the month, but Target missed Wall Street expectations with a weak gain.

New York City -- The discount and wholesale club sector was hit and miss in November, as Costco shone with a 9% rise in same-store sales for the month, but Target missed Wall Street expectations with a weak gain.

November 16, 2011
Target Q3 profit up 3.7%, beats expectations

Target Corp.’s profit increased a better-than-expected 3.7% in the third quarter to $555 million, up from $535 a year earlier.

Minneapolis -- Target Corp.’s profit increased a better-than-expected 3.7% in the third quarter to $555 million, up from $535 a year earlier. The retailer’s performance was helped by solid spending and improvement in its credit card business.

Revenue rose 5.4% to $16.05 billion. Same-store sales were up 4.3% in the quarter.

November 14, 2011
Target plans second CityTarget for Los Angeles

Target announced it will open a CityTarget store in the Westwood Market Place, Westwood, Calif., in July 2012.

Minneapolis -- Target announced it will open a CityTarget store in the Westwood Market Place, Westwood, Calif., in July 2012. The 98,000- sq.-ft. store will occupy a space that formerly housed Home Depot Expo.

The Westwood location is the second CityTarget store confirmed in the Los Angeles metropolitan area. Target previously announced that it would open a small-format, urban store at Figueroa and 7th in downtown Los Angeles in October 2012.