Welcome to our dedicated page for Target Corporation news (Ticker: TGT), a resource for investors and traders seeking the latest updates and insights on Target Corporation stock.
Target Corporation (NYSE: TGT), headquartered in Minneapolis, operates nearly 2,000 stores across the United States and serves millions of customers both in-store and online at Target.com. As the sixth-largest retailer in the United States, Target is known for offering a wide selection of apparel, home goods, electronics, and household essentials at competitive prices, aiming to provide a premium shopping experience.
Founded in 1946, Target has maintained a strong commitment to community support by donating 5% of its profits, amounting to millions of dollars each week. With a clear focus on delivering value and quality, Target has built a portfolio of owned brands that generate over $30 billion in annual sales, catering to various customer needs.
Recent initiatives include the introduction of dealworthy, a new low-price brand offering nearly 400 items, and the relaunch of the Target Circle loyalty program, designed to provide enhanced savings and personalized shopping experiences. In addition, Target has announced a collaboration with Diane von Furstenberg, featuring exclusive designs in fashion and home decor.
Financially, Target has shown resilience and strategic growth. For the fourth quarter of 2023, the company reported GAAP and adjusted earnings per share (EPS) of $2.98, significantly higher than the previous year's $1.89 per share. Full-year EPS also saw an increase, with GAAP EPS at $8.94 compared to $5.98 in 2022. Despite a 4.4% decline in comparable sales in the fourth quarter, Target's total revenue grew to $31.9 billion, a 1.7% increase from the previous year.
Target continues to invest in its future, focusing on enhancing store experiences, expanding its digital presence, and building a more efficient supply chain. With strategic investments, including the recent reintroduction of the Target Circle membership program, Target aims to foster deeper connections with its customers and sustain long-term growth.
Stay updated with the latest news and developments from Target Corporation by visiting their corporate website and press center.
A class action lawsuit has been filed against Target and its leadership by the City of Riviera Beach Police Pension Fund. The lawsuit alleges that Target defrauded investors through misleading statements about its Environmental, Social, and Governance (ESG) and Diversity, Equity, and Inclusion (DEI) initiatives during August 26, 2022, to November 19, 2024.
The complaint centers on Target's LGBT-Pride Campaign, which triggered customer boycotts and significant stock price declines. The stock fell from $160.96 to $124.12 between May 17-June 14, 2023, and further declined from $125.05 to $105.01 between August 15-October 6, 2023. Following Q3 2024 results showing an 11.9% decline in earnings per share, the stock dropped 22% from $156 to $121.72 on November 20, 2024.
Investors who purchased Target stock during this period may seek appointment as lead plaintiff by April 1, 2025.
Target (NYSE: TGT) reported positive holiday sales performance for November and December 2024, with total sales growing 2.8% and comparable sales increasing 2.0%. The company achieved record-high sales during both Black Friday and Cyber Monday periods, driven by nearly 3% traffic growth across stores and digital channels.
Digital sales grew almost 9%, with same-day delivery showing over 30% growth and Target Plus marketplace experiencing nearly 50% growth. The company saw meaningful acceleration in discretionary categories, particularly in apparel and toys.
Target announced significant leadership changes, including the retirement of Mark Schindele (EVP and Chief Stores Officer) and Brett Craig (EVP and CIO). Adrienne Costanzo will become the new Chief Stores Officer, while Prat Vemana will assume the role of Chief Information and Product Officer. Sarah Travis will be promoted to EVP and Chief Digital and Revenue Officer.
Target (NYSE:TGT) has announced its board of directors has declared a quarterly dividend of $1.12 per common share. The dividend will be paid on March 1, 2025, to shareholders of record as of February 12, 2025. This marks Target's 230th consecutive dividend payment since the company went public in October 1967, demonstrating a long-standing commitment to returning value to shareholders.
Target (NYSE: TGT) announced plans to introduce over 2,000 new wellness items, including more than 600 Target-exclusive products, with over half priced under $10. The expansion spans multiple categories including functional beverages, beauty, personal care, tech, food, and nutrition.
Key exclusive launches include new partnerships with celebrity brands such as BERO (Tom Holland), Blake Brown (Blake Lively), and Lemme (Kourtney Kardashian Barker). The company is also expanding its wellness tech offerings with over 140 new items, including exclusive infrared products and sleep technology. Target's private label Good & Gather will add 250+ new wellness-focused items.
The retailer is implementing a store-wide wellness strategy, featuring prominent displays and a dedicated wellness experience section at store entrances. All products will be available through Target's fulfillment services, including Drive Up, Order Pickup, and same-day delivery options.
Target (NYSE: TGT) launched its annual Holiday Clearance Event on December 26, 2024, offering significant discounts across its nearly 2,000 stores and online platforms. The sale features discounts of up to 50% off on various categories including clothing, shoes, beauty, toys, and holiday decor.
Key offerings include 50% or more off select holiday family sleepwear, beauty gift sets, and holiday decor, while clothing, shoes, toys, and sporting goods are available at up to 50% off. Target Circle members can save an additional 5% using their Target Circle Card. The retailer is maintaining its convenient fulfillment options, including Drive Up, Order Pickup, and same-day delivery services, along with a 90-day return policy for most new, unopened items.
Target (NYSE: TGT) announces extended holiday shopping services and deals for last-minute shoppers. The retailer offers same-day delivery on Christmas Eve for orders placed by 3 p.m., and Drive Up/Order Pickup services until 6 p.m. Most stores will operate extended hours until midnight through Dec. 23 and until 8 p.m. on Christmas Eve.
The company launches a Holiday Countdown Sale from Dec. 12-14, featuring deals up to 40% off through Dec. 24 via Target Circle. Key offers include savings on toys, beauty products, small appliances, and clothing. Notable deals include $10 off $50 toy purchases and $25 off $100 toy purchases, 30% off adult dressy clothing, and up to 50% off select toys including Squishmallows.
Target (NYSE: TGT) has announced remarkable first-week sales of nearly 1 million copies for the exclusive 'Taylor Swift | The Eras Tour Book'. The 256-page book, priced at $39.99, has become the highest-selling Week 1 New Release print book of 2024 and the fastest-selling new release book in four years. It's also set a record as the highest-selling book in the Music category in the past 20 years.
The book launched exclusively in Target stores on Black Friday, alongside 'The Tortured Poets Department: The Anthology' on CD ($17.99) and vinyl ($59.99). The hardcover book features over 500 images, including exclusive performance photos, rehearsal shots, and behind-the-scenes content, along with Taylor's personal reflections about the tour.
Target (NYSE: TGT) has announced its Cyber Monday sale running December 1-2, offering up to 50% off thousands of items across tech, video games, home, and more. The sale includes 25% off beauty products and significant discounts on Apple devices, PlayStation, and other popular brands.
The retailer will continue offering weekly deals through December 24, with notable savings including up to 30% off tech, 40% off small appliances, and 50% off select toys. Target Circle members can also enjoy the return of the popular 10% off Target GiftCards promotion on December 7-8.
Target (NYSE: TGT) has announced its Black Friday deals running through Nov. 30, offering up to 50% off on thousands of items across tech, apparel, video games, and more. The retailer will feature special three-day deals from Nov. 28-30, doubling last year's offers. Most stores will open at 6 a.m. on Black Friday, featuring exclusive Taylor Swift items. The event includes a two-day Cyber Monday sale on Dec. 1-2.
Key deals include 50% off select holiday trees, cookware sets, and Target Circle 360 membership, plus up to 50% off headphones, toys, and floorcare products. The retailer is also offering its Thanksgiving meal for four at $20, reduced by $5 from last year.
Target (NYSE: TGT) reported Q3 2024 financial results with comparable sales growth of 0.3% and digital sales increase of 10.8%. Guest traffic grew 2.4%, while Beauty comparable sales increased over 6%. The company reported GAAP and Adjusted EPS of $1.85, down 11.9% from last year. Total revenue reached $25.7 billion, up 1.1% year-over-year. Operating income was $1.2 billion, declining 11.2%. For Q4, Target expects flat comparable sales and EPS between $1.85 to $2.45, with full-year EPS guidance of $8.30 to $8.90.
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