Content about Target Corp.

May 16, 2013
Target launches Sonia Kashuk fall 2013 collection

Target has launched the fall 2013 collection of Sonia Kashuk beauty products at its stores, the mass merchandise chain said.

MINNEAPOLIS — Target Corp. has launched the fall 2013 collection of Sonia Kashuk beauty products at its stores, the mass merchandise chain said.


Pictured here: The Sonia Kashuk travel duffle bag.

April 24, 2013
Target to remodel, upgrade 25 school libraries in 2013

Target will renovate libraries at more than two dozen schools in need across the country this year under a program that will also include book donations and technology upgrades, as well as the option to have a Target-supported food pantry built, the mass merchandise retailer said.

MINNEAPOLIS — Target Corp. will renovate libraries at more than two dozen schools in need across the country this year under a program that will also include book donations and technology upgrades, as well as the option to have a Target-supported food pantry built, the mass merchandise retailer said Wednesday.

April 23, 2013
RadioShack closes Target mobile kiosks

RadioShack has ended its mobile phone partnership with Target amid slumping sales, the electronics store chain said.

FORT WORTH, Texas — RadioShack Corp. has ended its mobile phone partnership with Target Corp. amid slumping sales, the electronics store chain said Tuesday.

RadioShack said it had stopped operating its Target Mobile centers before the end of last month. The company had operated mobile phone kiosks inside Target stores. The company posted first quarter 2013 quarter sales of $849 million and a loss of $43 million, compared with $913 million last year and a loss of $8 million.

April 22, 2013
Target customers frequently turn to pharmacists for allergy advice, survey finds

More than half of allergy sufferers seek advice from pharmacists and doctors, a new survey by Target has found.

MINNEAPOLIS — More than half of allergy sufferers seek advice from pharmacists and doctors, a new survey by Target has found.

April 16, 2013
Target lowers Q1 EPS guidance amid softer-than-expected sales

Target has lowered its earnings expectations for first quarter 2013, the mass merchandise retailer said Tuesday.

MINNEAPOLIS — Target Corp. has lowered its earnings expectations for first quarter 2013, the mass merchandise retailer said Tuesday.

The Minneapolis-based chain said it expected same-store sales growth in the quarter to be about flat over first quarter 2012 due to sales trends that have been weaker than expected, particularly in seasonal and weather-sensitive merchandise categories. As a result, earnings-per-share guidance is expected to be less than $1.10; the company's original guidance had stated earnings would be $1.10-$1.20 per share.

March 22, 2013
More than $209 million of Target debentures tendered, company says

About $209.3 million worth of Target's debt has been put up for sale as the company moves to refinance $679 million worth of debt due between 2028 and 2031, the mass merchandise retailer said.

MINNEAPOLIS — About $209.3 million worth of Target Corp.'s debt has been put up for sale as the company moves to refinance $679 million worth of debt due between 2028 and 2031, the mass merchandise retailer said.

Target announced plans to purchase $170 million in 6.75% debentures due 2028, $154.9 million in 6.65% debentures due 2028 and $354 million in 7% debentures due 2031.

The company said the $209.3 million tendered so far represented 20.31%, 25.22% and 38.32% of the totals of the three respective security titles.

 

March 18, 2013
Target sets dates for next round of Canadian store openings

Target Corp. is opening 17 new stores in Canada's Ontario province Tuesday and four more on March 28, the mass merchandise retailer said Monday.

MISSISSAUGA, Ontario — Target Corp. is opening 17 new stores in Canada's Ontario province Tuesday and four more on March 28, the mass merchandise retailer said Monday.

Target said the soft openings follow the launch of three pilot stores and will allow the company to engage in volume testing ahead of their April grand opening. The company plans to open 124 stores across Canada this year.

March 15, 2013
Target buys Cooking.com, CHEFS Catalog

Target has purchased two online retailers of cooking equipment in a move designed to expand its cooking and kitchenware business, said the mass merchandise retailer, which has lately made major investments in multichannel retailing.

MINNEAPOLIS — Target Corp. has purchased two online retailers of cooking equipment in a move designed to expand its cooking and kitchenware business, said the mass merchandise retailer, which has lately made major investments in multichannel retailing.

Target announced the purchase of Cooking.com and CHEFS Catalog, both of which will continue to operate under their current names as a single, wholly owned subsidiary of Target. Financial terms of the deals were not disclosed.

March 14, 2013
Target said deal with TD Bank will profitably grow credit card portfolio

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.

March 13, 2013
Reports: Target making clinic push in Chicago

Target is expanding its retail clinic presence in the Chicago area, according to published reports.

NEW YORK — Target is expanding its retail clinic presence in the Chicago area, according to published reports.

The Chicago Tribune reported Wednesday that the mass merchandise retailer would open three clinics — two in the suburbs and one in the city. Construction is scheduled to start on May 28, and grand openings are planned for Aug. 18. The Target on Division Street, scheduled to open in October, will also have a clinic.

March 6, 2013
Target, Fast Company sponsor mobile-development competition

Fast Company magazine and Target Corp. are sponsoring a competition to develop a new mobile experience for Target, with a grand prize of $75,000.

NEW YORK — Fast Company magazine and Target are sponsoring a competition to develop a new mobile experience for Target, with a grand prize of $75,000.

The Co.Labs and Target Retail Accelerator is a competition to create either a mobile app or a mobile-enabled website design for the retailer, taking places at the Fast Co. Grill in Austin, Texas, blocks away from the SXSW conference. Entries will be accepted between this Friday and April 30, and seven finalists will be selected in May and awarded $10,000 to develop their prototypes.

February 7, 2013
Target January sales rise nearly 30%

Target reported net sales of nearly $6 billion in January, the company said, a 29.6% increase over January 2012.

MINNEAPOLIS — Target Corp. reported net sales of nearly $6 billion in January, the company said Thursday.

The mass merchandise retailer reported sales of $5.97 billion, a 29.6% increase over the $4.6 billion reported in January 2012. Comps for the period, which ended Saturday, increased 3.1%.

January 8, 2013
Target price matches online retailers

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.

December 17, 2012
Target launches new products, program for diabetics

Target has launched new products and a co-pay assistance program for customers with diabetes, the mass merchandise retailer said.

NEW YORK — Target has launched new products and a co-pay assistance program for customers with diabetes, the mass merchandise retailer said.

Target announced the release of new blood glucose meters and test strips. The retailer also offers products like alternative site lancets, alcohol prep pads and diabetic nutritional shakes.

The company also announced the launch of a $4 co-pay assistance program, as well as a free private-label blood glucose meter for customers who qualify for the program.

November 6, 2012
Target supports up-and-coming fashion designers in Canadian competition

Target is supporting up-and-coming Canadian fashion designers through a partnership with the Toronto Fashion Incubator, the company said Tuesday.

TORONTO — Target is supporting up-and-coming Canadian fashion designers through a partnership with the Toronto Fashion Incubator, the company said Tuesday.

Target announced the partnership with the incubator for the annual TFI New Labels fashion-design competition, the winner of which will receive a C$25,000 cash award and will get to have his or her exclusive collection sold in Target stores across Canada in 2014.

November 1, 2011
Target begins search for CFO as Scovanner's tenure comes to a close

The unexpected announcement that Target EVP and CFO Doug Scovanner will retire on March 31, 2012, has investors speculating about the reasons for his departure following the recent exit of other key executives.

MINNEAPOLIS — The unexpected announcement that Target EVP and CFO Doug Scovanner will retire on March 31, 2012, has investors speculating about the reasons for his departure following the recent exit of other key executives.

Analysts at Bernstein Research pointed to the fact that no successor has been named, suggesting that the retirement was not a long-planned event. However, the firm said it believed that despite the unexpected news, this appeared to be a true retirement and doesn't anticipate seeing Scovanner in a CFO role at another major company.

January 18, 2011
Tony Fisher named Target Canada president

After announcing that its chief marketing officer would serve as the executive committee sponsor of Target’s entrance into the Canadian market, the retailer named a leader for its Target Canada operations.

MINNEAPOLIS — After announcing that its chief marketing officer would serve as the executive committee sponsor of Target’s entrance into the Canadian market, the retailer named a leader for its Target Canada operations.

As president of Target Canada, Tony Fisher will be responsible for building the retailer's team, establishing the headquarters and leading the day-to-day operations. Target said it expects to open 100 to 150 Target stores throughout Canada in 2013 and 2014. Prior to this position, Tony Fisher was promoted to VP merchandise operations.