Content about Target Corporation

MINNEAPOLIS — July same-store sales at Target rose 4.1% on top of a prior-year gain of 2%, with increased transaction size serving as the primary driver of an increase toward the upward end of the company’s guidance.

MINNEAPOLIS — Target opened on Monday three new retail-based health clinics in the Twin Cities as part of its expansion plan announced earlier this year.

As previously reported by Drug Store News, Target announced earlier this year plans to open eight new clinic locations this year in the Twin Cities (four clinics), Chicago (three clinics) and Fort Lauderdale-Davie, Fla., areas (one clinic) by the end of July. The first of the new clinics opened in the Twin Cities on March 2.

HACKENSACK, N.J. — Baby care brand Nuk has expanded its line of spill-proof cups that will be sold exclusively at Target under the Gerber Graduates brand.

The company said that its new Grow Frog Grow and Fun-Filled Fireworks cup designs both feature a unique spout structure that encourages a baby's mouth to transform from accommodating an O-shaped nipple to a U-shaped cup, as well as support proper lip placement for drinking from an adult cup.

MINNEAPOLIS — The 4.5% increase in same-store sales Target reported for June was at the higher end of the company’s expectations and came on top of a prior-year increase of 1.7%.

The gain primarily was driven by an increase in average transaction size, while growth in the overall volume of transactions appeared to be somewhat moderate.

Target chairman, president and CEO Gregg Steinhafel said he was very pleased with the company’s performance at the upper end of a guidance range that called for a low- to mid-single-digit improvement.

MISSISSAUGA, Ontario — Walmart Canada has agreed to assume leasehold interests from Target Canada in up to 39 sites that currently are operated by Zellers.

Specific locations will be identified later this fall. Terms of this transaction were not disclosed.

The sites are among up to 220 possible sites whose leasehold interests Target is acquiring as part of a real-estate transaction announced in January. In May, Target selected its initial group of 105 sites, the vast majority of which will become Target stores.


MINNEAPOLIS — Target is poised to become an even more significant player in the world of health, wellness and beauty in the coming years, assuming the company can execute a range of initiatives designed to grow sales to $100 billion and double earnings per share to at least $8.


NEW YORK — Target’s board has finalized the decision to locate the company’s Canadian headquarters in Mississauga, Ontario, said president, chairman and CEO Gregg Steinhafel at a shareholders meeting in Pittsburgh on Wednesday.

MINNEAPOLIS — Target reported a 2.8% same-store sales increase for May, falling short of Wall Street's expectation for a 3.5% increase, as consumers remained cautious with their spending.

The retailer reported that net sales for the four-week period were $4.8 billion, an increase of 3.8% from $4.6 billion for the four weeks ended May 29, 2010.

NEW YORK — Bic has teamed up with House Party, a marketing company that specializes in delivering products into the homes of consumers via "party packs," to promote its Bic Soleil women's disposable razors for summer. Under the partnership, Bic is hosting 1,000 parties across the country in the homes of target consumers on June 4.

NEW YORK — To better connect with today's beauty consumers, mass market retailers should consider implementing a multisensory playground or a "BeautySphere," engaging them with a calendar of in-store pop-up activities and implementing a "roving endcap" as a cost-effective way to execute new ideas and highlight new products. Those were just some of the ideas that emerged Thursday evening during the Fashion Institute of Technology Class of 2011 Capstone presentations and graduation reception in New York.

NEW YORK — Target plans to spend more than it had forecast this year on its entry into the Canadian market as it nails down more of the best retail locations sooner than expected.

The retailer said it will be able to “clarify” within weeks the number and locations of the first 100 to 150 stores it will open in Canada.

“We expect to close on higher value lease transactions sooner than expected,” Target CFO Doug Scovanner told analysts on a conference call Wednesday.