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) announced The Fall Designer Collection, featuring four renowned designers: Rachel Comey, Victor Glemaud, Sandy Liang, and Nili Lotan. This limited-time collection offers over 180 stylish fall essentials priced between $15 and $80, with most items under $50. The collection emphasizes inclusivity, available in sizes XXS-4X, and will be accessible online and in select stores starting September. Target aims to energize customers' wardrobes with timeless fashion staples while showcasing the unique aesthetics of each designer.
Target Corporation (NYSE: TGT) announced a comprehensive debt-free education assistance program for over 340,000 U.S.-based frontline team members. Starting this fall, eligible staff can access support for undergraduate degrees, certifications, and free textbooks with no upfront costs. Target will invest $200 million over four years into this initiative, which also includes tuition assistance of up to $5,250 for non-master's degrees and $10,000 for master's degrees. This program aligns with Target's sustainability strategy, Target Forward, aimed at fostering an equitable workforce.
Target Corporation (NYSE: TGT) is launching a limited-time collaboration with author and illustrator Christian Robinson. The collection features over 70 items, including home decor, apparel, and children's books, priced between $6 and $70. Available starting August 15, the collection aims to encourage creativity and reflection in homes. It includes adaptive and sensory-friendly apparel. This partnership highlights Target's commitment to sourcing products from Black creators. The collection can be purchased online and in stores, with new items arriving in October.
Target Corporation (NYSE: TGT) and Ulta Beauty (NASDAQ: ULTA) are set to launch Ulta Beauty at Target, rolling out in over 100 Target stores nationwide and online this August. This initiative features more than 50 curated prestige brands, aiming to enhance the beauty shopping experience. The partnership plans to expand to 800 locations in the coming years, combining Ulta’s beauty expertise with Target's retail reach. The immersive shopping experience includes trained beauty experts and online access with benefits from both companies’ loyalty programs.
Target Corporation (NYSE: TGT) announces readiness for the back-to-school and college season, bolstered by last year's record demand. The retailer is increasing inventory and enhancing the shopping experience, offering guests exclusive access to both owned and national brands at competitive prices. Target's Teacher Prep Event returns, providing a 15% discount for eligible educators. With over 80% of items priced under $10, guests can expect unbeatable deals on essentials. Target's fulfillment options, including Drive Up and same-day delivery, streamline the shopping experience for families.
Target Corporation (NYSE: TGT) reported the results of its 2021 Annual Meeting of Shareholders held on June 9, 2021. Shareholders elected 12 board members, ratified Ernst & Young LLP as the accounting firm for fiscal 2021, and approved the executive compensation proposal with 92.9% support. However, a proposal to amend proxy access bylaws was rejected, receiving only 38.3% support. Approximately 428 million shares were voted, accounting for 86.1% of outstanding shares.
Target Corporation (NYSE:TGT) has declared a quarterly dividend of 90 cents per share, marking a 32.4% increase from the previous 68 cents. The dividend is payable on September 10, 2021 to shareholders of record by August 18, 2021. This payment will be the company's 216th consecutive dividend since going public in October 1967. With this increase, Target is on track for its 50th consecutive year of annual dividend growth, reflecting strong operating performance and cash generation.
Target Corporation reported impressive first quarter 2021 results, with comparable sales growing 22.9%, driven by 18.0% store sales and 50% digital sales increases. Total revenue rose to $24.2 billion, up 23.4%, while operating income surged 407% to $2.4 billion. GAAP EPS reached $4.17, up 643.2% from last year. The company gained over $1 billion in market share and expects strong comparable sales growth for the remainder of the year, though operating margins may not match last year's unprecedented levels.
Target Corporation (NYSE:TGT) will host a webcast for its 1st quarter earnings conference call on May 19, 2021, at 7:00 a.m. CT. This event is an opportunity for investors and media to gain insights into the company’s financial performance. Target operates over 1,900 stores and serves customers online at Target.com, continuing its commitment to donate 5% of profits to community initiatives. Interested parties can access the call via the company's investor relations website.
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