Content about Gregg Steinhafel

January 14, 2014

The recent breach of customer data at Target has attracted the attention of two U.S. senators.

WASHINGTON — The recent breach of customer data at Target has attracted the attention of two U.S. senators.

January 14, 2014

Target is investing $5 million in a coalition of cyber-security organizations to launch a marketing campaign to educate the public about phishing scams and security, the mass merchandise retailer said.

MINNEAPOLIS — Target is investing $5 million in a coalition of cyber-security organizations to launch a marketing campaign to educate the public about phishing scams and security, the mass merchandise retailer said.

The coalition includes the National Cyber-Forensics and Training Alliance, the National Cyber Security Alliance and Better Business Bureaus.

December 23, 2013

The chief executive of Target is reaching out to consumers in the wake of the widespread hacking of credit and debit card data at Target stores that the company confirmed last week.

MINNEAPOLIS — The chief executive of Target is reaching out to consumers in the wake of the widespread hacking of credit and debit card data at Target stores that the company confirmed last week.

In a statement on the mass-merchandise retailer's website, president, chairman and CEO Gregg Steinhafel sought to ameliorate customers' worries about the possibility that their cards were compromised. He emphasized that the issue had been "identified and eliminated," while the retailer extended a 10% discount to customers who shopped at its stores on Saturday and Sunday.

December 19, 2013

About 40 million credit and debit card accounts of Target customers were compromised between late November and the middle of this month, the mass merchandise retailer said Thursday.

MINNEAPOLIS — About 40 million credit and debit card accounts of Target customers were compromised between late November and the middle of this month, the mass merchandise retailer said Thursday.

Target confirmed earlier reports from the online security blog Krebs on Security that the company experienced a breach affecting nearly all of its stores. The breach was initially thought to have started the day before Thanksgiving and ended on Dec. 6, but investigators later found that it had lasted until Sunday.

December 18, 2013

As consumers are reaching the final days to squeeze in their holiday shopping, Target has announced some last-minute deals.

MINNEAPOLIS — As consumers are reaching the final days to squeeze in their holiday shopping, Target has announced some last-minute deals.

Guests using Cartwheel, the retailer's unique savings program, can take advantage of a one-day sale on Dec. 19 when around 40 great gift items — ranging from toys to cookware — will have special offers with discounts ranging from 10% to 60% off. Cartwheel has gained more than 1 million new users this season alone, putting the number of guests signed up for the program at 4 million.

November 25, 2013

Target Corp. has donated $50,000 to assist in relief efforts in the Midwest following a devastating tornado outbreak there earlier this month.

MINNEAPOLIS — Target Corp. has donated $50,000 to assist in relief efforts in the Midwest following a devastating tornado outbreak there earlier this month.

The mass-merchandise retailer's donation includes $45,000 in cash to the American Red Cross and $5,000 to non-profit organizations for relief efforts in Illinois, Indiana, Kentucky, Michigan and Missouri. In addition, all Target stores in affected areas will remain open.

November 21, 2013

Target Corp. posted sales of $17.3 billion in third-quarter 2013, a 4% increase over the same period last year, and a $341 million profit, down by 46.4% from a year ago, the mass merchandise retailer said Thursday.

MINNEAPOLIS — Target Corp. posted sales of $17.3 billion in third-quarter 2013, a 4% increase over the same period last year, and a $341 million profit, down by 46.4% from a year ago, the mass merchandise retailer said Thursday.

The results from the quarter reflected a earnings-per-share dilution of 29 cents related to the chain's new Canadian segment. Same-store sales in the U.S. segment grew by 0.9%, near the low end of the company's fiscal 2013 guidance, while total sales were $16.9 billion, up 2% from third-quarter 2012's $16.6 billion.

September 19, 2013

Target is donating $25,000 for relief efforts in Colorado following devastating floods there, the mass merchandise retailer said Thursday. The donation includes $20,000 for the American Red Cross and $5,000 in food, water and baby items.

MINNEAPOLIS — Target is donating $25,000 for relief efforts in Colorado following devastating floods there, the mass merchandise retailer said Thursday. The donation includes $20,000 for the American Red Cross and $5,000 in food, water and baby items.

According to media reports, about half a dozen people are confirmed dead and 200 are unaccounted for amid floods caused by what the National Oceanic and Atmospheric Administration called once-in-a-millennium rainfall. Property losses are estimated at nearly $2 billion.

June 24, 2013

Beauty retailer Ulta Beauty has appointed former PepsiCo executive Mary Dillon as CEO and a member of the board, effective July 1. Interim CEO Dennis Eck will step down from his role at that time.

BOLINGBROOK, Ill. — Beauty retailer Ulta Beauty has appointed former PepsiCo executive Mary Dillon as CEO and a member of the board, effective July 1. Interim CEO Dennis Eck will step down from his role at that time.

In February, Chuck Rubin stepped down as president, CEO and director to become CEO at Michaels Stores, a specialty retailer of arts and crafts.

June 19, 2013

A top executive of Sears and Kmart is among the retail executives appointed to the board of directors of a retail industry lobbying group.

ARLINGTON, Va. — A top executive of Sears and Kmart is among the retail executives appointed to the board of directors of a retail industry lobbying group.

The Retail Industry Leaders Association announced Wednesday the appointment of Sears Holdings Corp. president for Sears and Kmart, EVP and chief merchandising officer Ron Boire. Other executives include CEOs of The Home Depot, 7-Eleven, Petco Animal Supplies and J.C. Penney Co.

May 22, 2013

Colder weather and more conservative shoppers contributed to a drop in Target Corp.'s first quarter 2013 profits, but the company's underlying business remains healthy, executives said Wednesday morning in a conference call with investors.

MINNEAPOLIS — Colder weather and more conservative shoppers contributed to a drop in Target Corp.'s first-quarter 2013 profits, but the company's underlying business remains healthy, executives said Wednesday morning in a conference call with investors.

"While we are not satisfied with this quarter's performance, we remain highly confident in our strategy," president, chairman and CEO Gregg Steinhafel said during the call.

March 14, 2013

Target has sold its consumer credit card portfolio to TD Bank Group for $5.7 billion, the mass merchandise retailer said.

MINNEAPOLIS — Target Corp. has sold its consumer credit card portfolio to TD Bank Group for $5.7 billion, the mass merchandise retailer said.

February 27, 2013

Target is planning a rollout in Canada that will be bigger than any single year's worth of its store openings in the United States ever, executives of the company said Wednesday morning in a call with Wall Street analysts to discuss the mass merchandise retailer's fourth-quarter and full-year 2012 results.

MINNEAPOLIS — Target is planning a rollout in Canada that will be bigger than any single year's worth of its store openings in the United States ever, executives of the company said Wednesday morning in a call with Wall Street analysts to discuss the mass merchandise retailer's fourth-quarter and full-year 2012 results.

January 8, 2013

Target Corp. has launched a campaign to price match online retailers, the mass-merchandise retailer said.

MINNEAPOLIS — Target Corp. has launched a campaign to price match online retailers, the mass-merchandise retailer said Tuesday.

The Minneapolis-based retailer said it planned to price match online retailers like Amazon.com, Walmart.com, BestBuy.com and Toysrus.com year-round; Target stores would also price match items on the company's own website.

November 29, 2012

The retailer saw a worse than expected drop in same-store sales.

A worse than expected 1% decline in November same store sales indicates the holiday season is off to a slow start at Target. The 1% decline was substantially worse than the low single digit increase the company forecast at the start of the month when it reported a 2.4% increase for October that was toward the low end of guidance.

The November weakness suggests traffic trends may be deteriorating at Target, as the company blamed the decline on a decrease in comparable store transactions following that metric’s flat performance in October.

October 18, 2012

Target is enticing shoppers this holiday season with new initiatives, including price match, exclusive gift offerings and shoppable advertisements.

MINNEAPOLIS — Target is enticing shoppers this holiday season with new initiatives, including price match, exclusive gift offerings and shoppable advertisements.

“Target’s holiday plans are built around an outstanding shopping experience, exclusive merchandise and competitive prices,” said Gregg Steinhafel, Target Chairman, president and CEO. “Our guests will be able to shop with confidence this holiday season knowing that we are intensely focused on providing them the right merchandise at the right price.”

August 15, 2012

Target's second-quarter sales increased 3.5% to $16.5 billion and the company’s profits grew 2.9% to $1.06 per share, 5 cents higher than analysts expected.

MINNEAPOLIS — Target's second-quarter sales increased 3.5% to $16.5 billion and the company’s profits grew 2.9% to $1.06 per share, 5 cents higher than analysts expected.

August 8, 2012

The Retail Industry Leaders Association is urging President Barack Obama and Gov. Mitt Romney to consider the retail industry's role in the U.S. economy as the presidential candidates "advance their visions for the future."

ARLINGTON, Va. — The Retail Industry Leaders Association is urging President Barack Obama and Gov. Mitt Romney to consider the retail industry's role in the U.S. economy as the presidential candidates "advance their visions for the future."

July 5, 2012

Target reported a 2.1% same-store sales increase for the month of June that was toward the low end of the company’s expectations.

MINNEAPOLIS — Target reported a 2.1% same-store sales increase for the month of June that was toward the low end of the company’s expectations.

Despite June sales that were softer than expected, Target left its second-quarter profit forecast intact as the weaker-than-expected result offset a better-than-expected performance the previous month.

April 6, 2012

Target has committed $15,000 in cash and gift cards to assist the Texas communities impacted by recent tornadoes.

MINNEAPOLIS — Target has committed $15,000 in cash and gift cards to assist the Texas communities impacted by recent tornadoes.

Cash donations will be distributed to The Salvation Army and the American Red Cross. In addition, Target has donated gift cards to other local nonprofit organizations for such essentials as water and food.

April 2, 2012

Target has brought in someone with both advertising and retail experience to oversee its marketing efforts.

MINNEAPOLIS — Target has brought in someone with both advertising and retail experience to oversee its marketing efforts. The company announced that Jeffrey Jones II has been named as the company’s EVP and chief marketing officer, effective immediately.

March 1, 2012

Target reported a 7% same-store sales increase in February that shattered the company’s guidance for a 4% gain, thanks to unseasonably warm weather, which boosted shopper traffic and transaction sizes.

MINNEAPOLIS — Target reported a 7% same-store sales increase in February that shattered the company’s guidance for a 4% gain, thanks to unseasonably warm weather, which boosted shopper traffic and transaction sizes.

The sales increases was well above the company’s expectations, which prompted chairman, president and CEO Gregg Steinhafel to say, “We’re very pleased with the pace of our sales since the holiday season, though we continue to plan for a first quarter comparable-store sales increase of around 4%.”

February 2, 2012

Target appears to have salvaged its fourth-quarter sales results with a 4.3% same-store sales increase in January to offset a disappointing 1.6% increase in December and a 1.8% increase in November.

MINNEAPOLIS — Target appears to have salvaged its fourth-quarter sales results with a 4.3% same-store sales increase in January to offset a disappointing 1.6% increase in December and a 1.8% increase in November.

January 24, 2012

Target has promoted John Mulligan to the position of EVP and CFO, effective April 1. Mulligan currently serves as SVP finance. He replaces Doug Scovanner, Target’s EVP and CFO for the past 18 years, who announced his retirement in November 2011.

MINNEAPOLIS — Target has promoted John Mulligan to the position of EVP and CFO, effective April 1. Mulligan currently serves as SVP finance. He replaces Doug Scovanner, Target’s EVP and CFO for the past 18 years, who announced his retirement in November 2011.

January 5, 2012

Target chairman, president and CEO Gregg Steinhafel assured investors last month that December comps would exceed November’s 1.8% increase, but then Thursday morning reported a disappointing 1.6% increase and a reduced profit forecast.

MINNEAPOLIS — Joe Namath he’s not. Target chairman, president and CEO Gregg Steinhafel assured investors last month that December comps would exceed November’s 1.8% increase, but then Thursday morning reported a disappointing 1.6% increase and a reduced profit forecast.