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.
Target Corporation (NYSE:TGT) will host a webcast on May 18, 2022, at 7:00 a.m. CT to discuss its first quarter earnings. This conference call invites both investors and media to participate through the company's website. With nearly 2,000 stores nationwide, Target has a long-standing commitment to community support, allocating 5% of its profits for charitable contributions. For more information, visit the investor relations page.
Target (NYSE:TGT) provides an update on its Racial Equity Action and Change (REACH) commitment, aiming to invest over $2 billion with Black-owned businesses by 2025. Key milestones include:
- Investments with Black-owned businesses have increased by more than 50% since 2020.
- Target now offers over 100 Black-owned brands, doubling its previous count.
- Launching the Roundel Media Fund with over $25 million earmarked for diverse-owned companies.
Target continues to expand partnerships and enhance its marketing strategies aimed at supporting Black entrepreneurs and brands.
Target Corporation (NYSE: TGT) announced key updates to its leadership team aimed at enhancing the guest experience. Cara Sylvester has been appointed as executive vice president and chief guest experience officer, focusing on personalization and guest engagement. Brett Craig is promoted to executive vice president and chief information officer, succeeding Mike McNamara, who will transition to an advisory role. Matt Zabel becomes executive vice president and general counsel, while Arthur Valdez continues as chief supply chain and logistics officer. Christina Hennington will now oversee Target's operations in India.
Target Corporation (NYSE: TGT) has launched its most sustainable store in Vista, California. This location will generate more renewable energy than it needs, utilizing 3,420 solar panels and expected to produce a 10% energy surplus annually. The store's innovations include a shift to carbon dioxide refrigeration and heating powered by solar energy. Target aims for net-zero greenhouse gas emissions by 2040 and has reduced direct emissions by 27% since 2017. The initiative aligns with its broader sustainability strategy, Target Forward.
Target Corporation (NYSE: TGT) has launched a spring collaboration with Stoney Clover Lane, offering over 300 customizable items, including apparel, swimwear, and travel accessories. The collection, priced from $2 to $160, will be available in Target stores and online starting April 2, 2022. This partnership aims to enhance customer engagement by providing unique customization options. Co-founders Kendall and Libby Glazer emphasize the role of this launch in expanding their brand while appealing to Target's audience.
Target Corporation (NYSE: TGT) has declared a quarterly dividend of 90 cents per common share, payable on June 10, 2022 to shareholders of record by May 18, 2022. This dividend marks the 219th consecutive payment since the company went public in October 1967. Target has a long-standing commitment to giving back, contributing 5% of profits to communities, equating to millions weekly.
Target Corporation (NYSE: TGT) has launched Target Zero, an initiative designed to reduce waste by showcasing products that are refillable, reusable, or compostable. This program introduces a Target Zero icon for easy identification of sustainable products online and in stores. Beginning with hundreds of items in categories such as Beauty and Household Essentials, the initiative aligns with Target's sustainability strategy, Target Forward, which aims for 100% recyclable packaging by 2025. The initiative highlights collaboration with brand partners and focuses on meeting growing consumer demand for eco-friendly options.
Target Corporation (NYSE: TGT) plans to invest up to $5 billion in 2022 to enhance its operational capabilities. This investment will focus on new store openings, digital experiences, and supply chain improvements. Target aims to open approximately 30 new stores and remodel 200 existing locations. The expansion of partnerships, such as Ulta Beauty, will see over 250 new shop-in-shop locations. Additionally, Target's fulfillment services have grown nearly 400% since 2019, driving significant digital sales growth.
Target Corporation (NYSE: TGT) reported strong Q4 2021 results with GAAP EPS of $3.21, up from $2.73 in Q4 2020, and full-year total revenue reaching $106 billion, a 13.3% increase from 2020. Comparable sales rose by 8.9% in Q4 and 12.7% for the year. Operating income margin expanded to 8.4%, while operating income reached $8.9 billion, up 36.8% year-over-year. For fiscal 2022, Target anticipates low- to mid-single digit revenue growth and high-single digit growth in Adjusted EPS, though first quarter margins are expected to decline from last year's figures.
Target Corporation (NYSE:TGT) will announce its fourth quarter and full-year 2021 financial results on March 1, 2022. A meeting with financial analysts will follow at 9:00 a.m. Eastern time, where Target's leadership will discuss strategic plans and opportunities for 2022. Investors can access the meeting via webcast on the company’s investor relations website, which will remain archived for 90 days. Target, founded in Minneapolis, has over 1,900 stores and maintains a commitment to donating 5% of profits to communities.
FAQ
What is the current stock price of Target Corporation (TGT)?
What is the market cap of Target Corporation (TGT)?
What does Target Corporation specialize in?
How many stores does Target operate?
What is the Target Circle program?
What financial performance did Target report for the fourth quarter of 2023?
What is the new 'dealworthy' brand?
How does Target contribute to communities?
What are some recent collaborations announced by Target?
Where can I find the latest news about Target?
What strategic initiatives is Target focusing on?
How does Target aim to attract more customers?
