Content about Target Corp.

May 30, 2013

Target Corp. will expand its in-store "beauty concierge" service to 27 stores in Washington D.C., Northern Virginia and Baltimore on June 28.

Minneapolis -- Target Corp. will expand  its in-store "beauty concierge" service to 27 stores in Washington D.C., Northern Virginia and Baltimore on June 28. The program, which Target piloted in the Chicago area last summer, is also being rolled out to 96 stores in Los Angeles/Orange County, 36 stores in Minneapolis and has been expanded to 41 stores in Chicago. It will have been implemented in a total of 190 stores by the end of 2013.

May 22, 2013

Target Corp. reported a 26% drop in its first-quarter profit as unseasonably cool weather, the payroll tax increase and other economic pressures took a toll on sales.

Minneapolis -- Target Corp. reported a 26% drop in its first-quarter profit as unseasonably cool weather, the payroll tax increase and other economic pressures took a toll on sales.

Target earned $498 million the three months ended May 4, down from $697 million in the year-ago period. Sales rose 1% to $16.71 billion.

Same-store sales fell 0.6%. The number of transactions fell 1.9%.

May 21, 2013

Target Corp. is testing a video streaming service with internal employees.

Minneapolis – Target Corp. is testing a video streaming service with internal employees. Called Target Ticket beta, the service features 15,000 movies and TV shows for digital download.

The service, which is password-protected, presumably is designed to compete with Netflix and Hulu, among other digital video platforms.

 

April 16, 2013

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.

 

April 3, 2013

Best Buy Co. Inc. and Target Corp. ended a partnership that positioned Geek Squad agents in Target stores in Denver and Minneapolis, the Minneapolis Star Tribune reported.

New York -- Best Buy Co. Inc. and Target Corp. ended a partnership that positioned Geek Squad agents in Target stores in Denver and Minneapolis, the Minneapolis Star Tribune reported.

The six-month pilot allowed Geek Squad personnel to offer services such as installation and repair to electronics customers at 29 Target stores. The program covered a wide range of consumer electronics products, according to the report.

March 21, 2013

Walmart holds on to the top spot in the annual ranking of the 50 most valuable U.S. retail brands from branding consultancy firm Interbrand.

Dayton, Ohio -- Walmart holds on to the top spot in the annual ranking of the 50 most valuable U.S. retail brands from branding consultancy firm Interbrand. The discounter’s brand value is put at $141 billion (up 1% from the 2012 report.). By comparison, the second-highest ranked U.S. brand, Target Corp., has a value of $25 billion. The Home Depot is solid at number three, with a brand value of nearly $23 billion.

March 18, 2013

Target Corp. said that it will open 17 southwestern Ontario, Canada store on March 19 and another four on March 28, on the heels of three successful pilot-store launches in the area.

Minneapolis -- Target Corp. said Monday that it will open 17 southwestern Ontario, Canada store on March 19 and another four on March 28, on the heels of three successful pilot-store launches in the area.

The added slate of openings, said Target, will allow the retailer more opportunity to volume-test in advance of April grand opening dates.

March 14, 2013

Target Corp. has made two e-commerce acquisitions aimed at expanding its presence in the growing cooking and kitchenware market.

Minneapolis -- Target Corp. has made two e-commerce acquisitions aimed at expanding its presence in the growing cooking and kitchenware market. The retailer said it has acquired CHEFS Catalog and assets of Cooking.com in two separate transactions.  

March 13, 2013

Target Corp. said it has completed the sale of its entire consumer credit card portfolio to TD Bank Group for $5.7 billion, the gross value of the outstanding receivables at the time of closing.

Minneapolis -- Target Corp. said it has completed the sale of its entire consumer credit card portfolio to TD Bank Group for $5.7 billion, the gross value of the outstanding receivables at the time of closing.
 

March 11, 2013

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.

February 27, 2013

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.

February 7, 2013

There were few missteps among the discounters in January, as most posted strong results, many surpassing Wall Street expectations.

New York -- There were few missteps among the discounters in January, as most posted strong results, many surpassing Wall Street expectations.

Target reported a same-store sales rise of 3.1%, topping Wall Street expectations. Total sales surged 29.6% to $5.97 billion in January.

January 8, 2013

Target Corp. said it plans to price-match top online retailers year-round, including Amazon.com, Walmart.com, BestBuy.com and Toysrus.com (including Babiesrus.com).

Minneapolis -- Target Corp. said Tuesday it plans to price-match top online retailers year-round, including Amazon.com, Walmart.com, BestBuy.com and Toysrus.com (including Babiesrus.com).

Target stores will also price-match items found on Target.com, the company said.

January 3, 2013

Target Corp. turned in a less than stellar performance in December, recording flat same-store sales.

New York -- Target Corp. turned in a less than stellar performance in December, recording flat same-store sales. But Costco Wholesale Corp. and TJX shone, exemplifying an up-and-down season in which consumers backed off buying amid concerns about a “fiscal cliff” and the uncertain economic climate.

December 27, 2012

The way in which retailers market to consumers has undergone considerable change in recent years, particularly in light of the popularity of social media platforms. Indeed, social media has become essential to retailers’ marketing efforts, according to a recent BDO USA survey, which found that 86% of retail CMOs included social media in their holiday 2012 marketing plans.

December 3, 2012

Early reports indicate that Target Corp.’s holiday promotion with Neiman Marcus is not off to the spectacular start that many industry experts had expected.

New York -- Early reports indicate that Target Corp.’s holiday promotion with Neiman Marcus is not off to the spectacular start that many industry experts had expected. The promotion includes some 50 gift items featuring works of 24 well-known designers from Marc Jacobs to Diane von Furstenberg to Judith Leiber.

November 29, 2012

Discounters, which are expected to fare well this holiday season, showed mixed results in November.

New York -- Discounters, which are expected to fare well this holiday season, showed mixed results in November. TJX Cos. reported Thursday that November same-store sales climbed 3%, missing Wall Street’s expected 3.6% rise but beating the retailer’s internal expectations.

Target Corp. saw same-store sales fall in November, hurt by weak sales during the first two weeks. Comps dipped 1%, while Wall Street expected a 2.1% gain. Revenue for the month was essentially flat.

November 15, 2012

Target Corp. reported net income of $637 million for the third quarter, compared with $555 million in the prior-year period and beating Wall Street expectations.

Minneapolis -- Target Corp. reported Thursday net income of $637 million for the third quarter, compared with $555 million in the prior-year period and beating Wall Street expectations.
 
The retailer previously reported that sales rose 3.4% to $16.60 billion in the quarter, and same-store sales climbed 2.9%.

Target is forecasting a fourth-quarter earnings range that at the high-end tops estimates.

 

November 14, 2012

Target Corp. announced it is pursuing Leadership in Energy & Environmental Design (LEED) certification for all Canadian stores opening in 2013.

Toronto -- Target Corp. announced Wednesday it is pursuing Leadership in Energy & Environmental Design (LEED) certification for all Canadian stores opening in 2013.

Design plans include conserving energy and water, reducing greenhouse gas emissions and limiting waste sent to landfill, among other features.

November 8, 2012

Target Corp. announced a partnership with CNET – a top website for consumer electronics and tech news – to provide guests with CNET Editors’ Picks for Target, in time for the holiday season.

Minneapolis -- Target Corp. announced a partnership with CNET – a top website for consumer electronics and tech news – to provide guests with CNET Editors’ Picks for Target, in time for the holiday season. The collaboration is part of a larger, ongoing partnership between Target and CNET.

November 2, 2012

Target Corp. unveiled its lineup of gift cards for the upcoming holiday season.

Minneapolis -- Target Corp. unveiled its lineup of gift cards for the upcoming holiday season. The expanded assortment, which include traditional gift cards with holiday and multicultural designs, and digital options, will be available in stores on Nov. 4

October 23, 2012

Target Corp. said Tuesday it will sell its $5.9 billion credit card portfolio to TD Bank Group.

Minneapolis -- Target Corp. said Tuesday it will sell its $5.9 billion credit card portfolio to TD Bank Group.

The business will be sold for an amount equal to the gross value of the outstanding receivables at the time of closing, said Target; the portfolio currently has a gross value of about $5.9 billion.

TD Bank also agreed to a seven-year deal to underwrite, fund and own the retailer’s future credit card and Visa receivables in the U.S.

October 17, 2012

Target Corp. and The Neiman Marcus Group will promote their upcoming joint holiday collection by serving as the sole sponsors of the mid-season finale of the hit ABC television show “Revenge.”

Minneapolis -- Target Corp. and The Neiman Marcus Group will promote their upcoming joint holiday collection by serving as the sole sponsors of the mid-season finale of the hit ABC television show “Revenge.”

In place of standard broadcast commercials, the retailers are working directly with the creative team of “Revenge” to create original content incorporating the Target and Neiman Marcus holiday collection. The show will air on Nov. 11.

October 11, 2012

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.

 

October 4, 2012

Target Corp. will introduce QR codes in stores in time for the holiday shopping season.

Minneapolis -- Target Corp. will introduce QR codes in stores in time for the holiday shopping season. Beginning Oct. 14, each of the chain’s Top 20 toys will have a QR code that shoppers can scan with their mobile device, allowing them to purchase the toy directly and ship it for free to anyone, anywhere in the U.S. The toys will be promoted with signs featuring the QR codes.