Content about Target Corp.

September 10, 2014

Target Corp. is extending its mobile strategy with two new options.

New York -- Target Corp. is extending its mobile strategy with two new options. The retailer has adopted Like2Buy, a platform that enables the chain’s Instagram followers to easily buy products featured in photos from participating brands. Target also is integrating the software for Apple’s new mobile payments service, Apple Pay, into its mobile app.

September 5, 2014

Target Corp. is expanding out of its Minneapolis home base with its new, small-format TargetExpress concept.

Minneapolis - Target Corp. is expanding out of its Minneapolis home base with its new, small-format TargetExpress concept. The retailer plans to open twoTargetExpress locations in Northern California, in San Francisco and Berkeley, in March 2015. A third San Francisco-area TargetExpress will also open in 2015, with a location to be announced in the coming months.

Target debuted its new Express format in July 2014, in downtown Minneapolis. It plans to open another location in the area, in the Highland Park area of St. Paul, in 2015.

August 20, 2014

Target Corp. on Wednesday reported a 61.7% drop in Q2 earnings.

Minneapolis -- Target Corp. on Wednesday reported a 61.7% drop in Q2 earnings. The chain also lowered slashed its annual profit outlook as it continues to deal with weak results in Canada, sluggish U.S. sales and the lingering effects of its data breach.   

Target earned $234 million in the quarter ended Aug. 2, down from $611 million in the year-ago period.

Revenue rose 1.7% to $17.4 billion, slightly above the $17.38 billion analysts had expected.

August 6, 2014

Target Corp. has added its name to a legal defense of gay marriage. The move comes four years after the company was criticized for supporting a strident opponent of same-sex unions.

New York -- Target Corp. has added its name to a legal defense of gay marriage. The move comes four years after the company was criticized for supporting a strident opponent of same-sex unions.

Target signed a court brief backing marriage equality in a pending court case and publicly declared its support of gay marriage, joining the likes of Starbucks, Apple and Intel.

August 5, 2014

Target Corp. is reducing its earnings guidance for the second quarter of fiscal 2014 due to the expected $138 million financial impact of its December 2013 data breach, partially offset by $38 million in insurance.

Minneapolis – Target Corp. is reducing its earnings guidance for the second quarter of fiscal 2014 due to the expected $138 million financial impact of its December 2013 data breach, partially offset by $38 million in insurance. Target now expects EPS for the quarter within a range around $0.78, compared with prior guidance of $0.85 to $1 per share.

August 4, 2014

Target Corp. is running a Q&A with its new chairman and CEO, Brian Cornell, on its in-house, behind-the-scenes blog, A Bullseye View.

Target Corp. is running a Q&A with its new chairman and CEO, Brian Cornell, on its in-house, behind-the-scenes blog, A Bullseye View. The interview was conducted by the Bullseye View team.

You are the first CEO who has been hired from outside of Target. What are the benefits of coming in from the outside? What will be some of the challenges?

July 31, 2014

Target Corp. on Thursday named retail and consumer products veteran Brian Cornell as its new CEO and chairman of the board, effective Aug. 12.

Minneapolis -- Target Corp. on Thursday named retail and consumer products veteran Brian Cornell as its new CEO and chairman of the board, effective Aug. 12.

Cornell, 55, most recently served as CEO of PepsiCo American Foods. Before joining Pepsi in 2012, he served as president and CEO of Sam's Club. Cornell also held the position of CEO of Michaels Stores and, prior to that, executive VP and chief marketing officer of Safeway.

July 25, 2014

Target Corp. has pulled back the curtain on its new small-format store, TargetExpress, in the “Dinkeytown” section of downtown Minneapolis.

Minneapolis -- Target Corp. has pulled back the curtain on its new small-format store, TargetExpress, in the “Dinkeytown” section of downtown Minneapolis. The 20,000-sq.-ft. store is just steps away from the University of Minnesota. (Take the video tour.)

July 23, 2014

Target Corp. on Sunday, July 27, will unveil its small-store format, TargetExpress, in Minneapolis.

New York -- Target Corp. on Sunday, July 27, will unveil its small-store format, TargetExpress, in Minneapolis.

The 20,000-sq.-ft. store is located on the street level on an apartment building near the University of Minnesota campus and is also close to the retailer’s headquarters.  

July 21, 2014

Target Corp. is launching a new image-recognition mobile app, called In a Snap, aimed at back-to-college shoppers.

Minneapolis – Target Corp. is launching a new image-recognition mobile app, called In a Snap, aimed at back-to-college shoppers. The free iPhone app, which enables students and families to quickly scan, select and purchase items with just a few clicks, is featured in ads for Target’s college-oriented Room Essentials brand in issues of Real Simple, Architectural Digest, Domino and more.

July 7, 2014

Target Corp. on Monday announced three executive hires who will have responsibilities for leading teams across its information technology, e-commerce and digital product teams.

Seattle -- Target Corp. on Monday announced three executive hires who will have responsibilities for leading teams across its information technology, e-commerce and digital product teams.

Jim Fisher was named senior VP, infrastructure and operations, Target Technology Services, where he will oversee Target’s technical infrastructure and operations. Immediately before Target, Fisher was senior VP of global infrastructure operations at First Data Corporation.

July 2, 2014

The Securities and Exchange Commission (SEC) is reportedly investigating whether Target Corp. adequately protected its data and informed shareholders about the possible consequences relating to its fall 2013 data breach, according to Bloomberg.

Minneapolis – The Securities and Exchange Commission (SEC) is reportedly investigating whether Target Corp. adequately protected its data and informed shareholders about the possible consequences relating to its fall 2013 data breach, according to Bloomberg. The report said that Target is one of several public companies that suffered a data breach which is being investigated by the SEC.

July 2, 2014

Target Corp. on Wednesday requested that customers no longer carry guns in its stores.

New York -- Target Corp. on Wednesday requested that customers no longer carry guns in its stores.

The retailer found itself embroiled in controversy when gun-rights activists in Texas and several other states chose Target stores to demonstrate their belief in the right to openly bear arms. In response, the chain came under heavy fire from groups such as "Moms Demand Action for Gun Sense" and others who expressed concern about firearms being carried into an environment where the shoppers are often accompanied by children.

June 24, 2014

Target Corp. reportedly experienced difficulties in areas including product mix and corporate creativity under ousted CEO Gregg Steinhafel.

Minneapolis – Target Corp. reportedly experienced difficulties in areas including product mix and corporate creativity under ousted CEO Gregg Steinhafel. According to the Wall Street Journal, these difficulties preceded any problems relating to Target’s fall 2013 data breach or expansion into Canada and helped lead to Steinhafel’s essentially forced resignation.

June 12, 2014

Target Corp. is introducing a new policy by imposing new rules on the cleaning companies it hires to clean its stores in the Minneapolis-St. Paul area, Businessweek reported.

New York — Target Corp. is introducing a new policy by imposing new rules on the cleaning companies it hires to clean its stores in the Minneapolis-St. Paul area, Businessweek reported.

June 11, 2014

Target Corp. announced at its annual meeting on Wednesday that the company’s shareholders re-elected its entire 10-member board of directors. Shareholders also approved the company’s executive compensation plan.

New York — Target Corp. announced at its annual meeting on Wednesday that the company’s shareholders re-elected its entire 10-member board of directors. Shareholders also approved the company’s executive compensation plan.

In May, proxy firm Institutional Shareholder Services recommended the removal of seven board members, accusing them of failing to protect Target from its massive data breach.

June 10, 2014

Target Corp. has named Brad Maiorino as senior VP, chief information security officer, a new position added as the chain overhauls its security department in the wake of its data breach. Maiorino comes to Target from General Motors, where he was the company’s chief information security and information technology risk officer. Prior to that, he was the chief information security officer at General Electric.

Minneapolis — Target Corp. has named Brad Maiorino as senior VP, chief information security officer, a new position added as the chain overhauls its security department in the wake of its data breach.  Maiorino comes to Target from General Motors,  where he was the company’s chief information security and information technology risk officer.  Prior to that, he was the chief information security officer at General Electric.

May 28, 2014

Target Corp. has formed a Digital Advisory Council as part of its efforts to accelerate its digital transformation.

Minneapolis -- Target Corp. has formed a Digital Advisory Council as part of its efforts to accelerate its digital transformation. Target said the council will help guide the retailer’s omnichannel strategies and push it to innovate faster, and discover new ways to leverage technology to enhance the shopper experience – both online and in stores.

May 23, 2014

Target Corp. has hired Kristi Argyilan as senior VP, media and guest engagement, effective June 2.

Minneapolis -- In a move to further boost its marketing organization, Target Corp. has hired Kristi Argyilan as senior VP, media and guest engagement, effective June 2.

Argyilan comes to the Target from IPG Mediabrands where she was most recently the president at Magna Global, North America. She has also held senior positions with advertising and integrated marketing agencies including Arnold, Hill Holiday, and Goodby, Silverstein & Partners.

May 21, 2014

Target Corp. posted a 16% drop in first quarter earnings as costs related to its data breach and the company's troubled Canadian operations continue to take a toll on its overall performance.

Minneapolis -- Target Corp. posted a 16% drop in first quarter earnings as costs related to its data breach and the company's troubled Canadian operations continue to take a toll on its overall performance. The retailer also cut its annual profit forecast and released a second quarter projection below Street expectations. On a positive note, Target's same-store sales metric improved from the last quarter.

May 20, 2014

In a management shakeup, Target Corp. has replaced Tony Fisher, president of its troubled Canadian operations, with 15-year company veteran Mark Schindele, effective immediately.

Minneapolis – In a management shakeup, Target Corp. has replaced Tony Fisher, president of its troubled Canadian operations, with 15-year company veteran Mark Schindele, effective immediately. 
 

May 19, 2014

Target Corp. cut the compensation of former CEO Gregg Steinhafel to $13 million in fiscal 2013 from $20.6 million in fiscal 2012.

Minneapolis – Target Corp. cut the compensation of former CEO Gregg Steinhafel to $13 million in fiscal 2013 from $20.6 million in fiscal 2012. According to a regulatory filing, Target decided to reduce Steinhafel’s total compensation after holding meetings and calls with shareholders owning 40% of total company shares and two proxy advisory firms.

May 5, 2014

Target Corp. announced on Monday that CEO and president Gregg Steinhafel, a 35-year-company-veteran, had resigned, effective immediately.

Minneapolis -- Target Corp. announced on Monday that CEO and president Gregg Steinhafel, a 35-year-company-veteran, had resigned, effective immediately. The news comes nearly five months after the retailer disclosed a massive data breach that damaged its reputation among customers and has derailed its business.
 

April 29, 2014

Target Corp. named veteran IT executive Bob DeRodes as chief information officer. The retailer also announced that it plans to incorporate MasterCard chip-and-PIN technology across its Target-branded REDcard portfolio by early 2015

Minneapolis -- Target Corp. named veteran IT executive Bob DeRodes as chief information officer. The retailer also announced that it plans to incorporate MasterCard chip-and-PIN technology across its Target-branded REDcard portfolio by early 2015, and is converting existing payment terminals at its stores this year ahead of schedule.

April 9, 2014

Target Corp. is introducing “Made to Matter – Handpicked by Target.”

Minneapolis -- Target Corp. is introducing “Made to Matter – Handpicked by Target.” The collection brings together 17 natural, organic and sustainable brands to introduce new products.