Target Corporation - TGT STOCK NEWS

Target Corporation (NYSE: TGT) appointed Grace Puma as a new director effective immediately. Puma brings extensive experience from her tenure at PepsiCo, where she was executive vice president and COO, overseeing operations and procurement. She held pivotal leadership roles throughout her career, including senior vice president at United Airlines and Kraft Foods. Puma's expertise in supply chain and operations is expected to enhance Target's board effectiveness. Her addition aims to strengthen Target's strategic position as it navigates a complex operating environment.

Bobbie, a USDA Organic infant formula, has announced its exclusive launch at Target (TGT) stores nationwide. This marks a significant step for the brand, just 18 months after its launch as a direct-to-consumer product. Bobbie is made with organic grass-fed milk sourced from family-owned farms and is the first infant formula to receive Clean Label Project Purity Award. With over 70,000 subscribers and rapid growth, Bobbie aims to address the ongoing infant formula shortage, making its products available in-store and online at Target this July.

Target Corporation (NYSE: TGT) has announced enhanced savings for the back-to-school and college season, introducing a 20% discount for college students via Target Circle, up from 15% last year. Additionally, the Teacher Prep Event is extended from July 17 to September 10, allowing teachers to save 15% on supplies. Target offers an assortment of low-priced items, with many under $10, and special sales events, including tax-free weekends and Target Deal Days from July 11-13. This initiative aims to meet the budgeting needs of families and educators during the essential back-to-school period.

Target Corporation announces the return of its Target Deal Days sales event, offering incredible savings on hundreds of thousands of items. The event will take place from July 11-13 and will feature deep deals across every category, including food and beverage, electronics, beauty, home, apparel, and toys. Guests can shop on Target.com and the Target app, with no membership fee required. Target's same-day services and delivery options provide convenient and contactless shopping experiences.

Target Corporation (NYSE:TGT) announced the voting results from its 2022 Annual Meeting of Shareholders held on June 8, 2022. Notable outcomes include the election of 12 board members, ratification of Ernst & Young as the independent accounting firm for fiscal 2022, and approval of executive compensation with a 92.7% majority. Shareholders rejected two proposals related to proxy access and meeting methods. Approximately 86.3% of outstanding shares were voted, totaling over 400 million shares.

The board of directors of Target Corporation (NYSE: TGT) has announced a quarterly dividend of $1.08 per share, reflecting a 20% increase from the previous dividend of 90 cents. This dividend is payable on September 10, 2022, to shareholders recorded by August 17, 2022. This marks Target's 220th consecutive dividend since going public in October 1967 and positions the company for its 51st consecutive year of annual dividend growth.

Target Corporation (NYSE: TGT) has announced strategic actions to optimize inventory for 2022, emphasizing adaptability in a volatile market. Key initiatives include markdowns, excess inventory removal, and additional holding capacity at U.S. ports. The company expects second-quarter operating margins around 2%, with anticipated growth in the second half reaching around 6%. Despite external pressures, Target forecasts low- to mid-single digit revenue growth for the year, aiming to maintain or increase market share. CEO Brian Cornell highlights ongoing traffic and sales increases as a promising sign for recovery.

Target Corporation (NYSE: TGT) reported a 3.3% growth in comparable sales for Q1 2022, following a 22.9% increase last year. Total revenue reached $25.2 billion, a 4.0% rise year-over-year. GAAP EPS was $2.16, down 48.2% from $4.17 in 2021. Operating margin fell to 5.3%, significantly below expectations, driven by gross margin pressure from inventory reductions and higher freight costs. The company plans for low- to mid-single digit revenue growth and expects an operating margin around 6% for the full year. Q1 2022 capital deployment included a 32.4% dividend increase.

Target Corporation (NYSE: TGT) has announced a partnership with actress and social media influencer Tabitha Brown to launch four lifestyle collections. The first release, featuring over 75 apparel, swim, and accessories items priced mainly under $30, will be available starting June 11, 2022. The collaboration aims to spread positivity and joy, aligning with Target's commitment to support Black creators and businesses through its Racial Equity Action and Change initiative. The collections will cover various categories, including home, food, and kitchenware.