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) has announced a limited-time collaboration with plant stylist Hilton Carter. This collection features over 65 products, including live and faux plants, priced between $5 and $130, available starting May 14, 2021. The collaboration aims to inspire customers to enhance their living spaces with greenery, as plant-related searches on Target.com increased by 300% over the past year. The collection includes various accessories like ceramic pots and watering cans, promoting a fresh spring vibe. Target continues to innovate through partnerships, reaffirming its commitment to enhance customer experience.
Target Corporation (NYSE: TGT) has announced a new edition of its limited-time Designer Dress Collection, featuring designers ALEXIS, Christopher John Rogers, and RIXO. The collection showcases over 70 original dress designs priced between $40 and $60, emphasizing bold patterns and inclusive sizing from XXS to 4X. Available on Target.com and in select stores, the collection reflects Target's commitment to inclusivity and quality. The dresses will also be accessible via contactless pickup options.
Target Corporation (NYSE:TGT) will participate in the J.P. Morgan 7th Annual Retail Roundup Conference on April 15, 2021, at 11:20 a.m. EDT. Key executives, including CEO Brian Cornell, COO John Mulligan, and CFO Michael Fiddelke, will represent the company. Investors and media can listen to the call via the company's website. Target, based in Minneapolis, operates over 1,900 stores and has a long-standing commitment to giving back, donating 5% of its profits to communities.
Target Corporation (NYSE:TGT) announced a commitment to spend over $2 billion with Black-owned businesses by the end of 2025. The initiative will involve adding products from more than 500 Black-owned businesses and enhancing operational engagement. Target is also launching resources such as the 'Forward Founders' program to support Black entrepreneurs in retail. This move aligns with Target's Racial Equity Action and Change (REACH) initiative, furthering their commitment to advance racial equity and provide significant economic opportunities.
The board of directors of Target Corporation (NYSE:TGT) has announced a quarterly dividend of 68 cents per common share, set to be payable on June 10, 2021. Shareholders of record as of May 19, 2021 will be eligible for this dividend. This marks the 215th consecutive dividend paid by Target since it became publicly held in October 1967. This commitment showcases Target's continued earnings strength and focus on returning value to shareholders.
On March 2, 2021, Target Corporation (NYSE: TGT) announced a plan to invest approximately $4 billion annually to enhance its retail capabilities. Following a record financial performance in 2020, the company aims to accelerate new store openings, remodel existing stores, and improve fulfillment services. This includes increasing the availability of fresh food through Drive Up services and expanding partnerships with brands like Ulta Beauty and Apple. Target also plans to test new sortation centers to enhance delivery efficiency and expects to open new distribution centers in 2021.
Target Corporation reported a robust Q4 2020 with a 20.5% increase in comparable sales, driven by a 118% surge in digital sales and 212% growth in same-day services. The GAAP EPS reached $2.73, up from $1.63 in 2019, while full-year sales grew by $15 billion, representing a historical achievement. Target gained approximately $9 billion in market share in 2020. Despite uncertainties, no guidance for FY2021 was provided. Operating income surged 53.2% to $1.8 billion with improved margins, although supply chain costs pressured profits.
Target Corporation (NYSE: TGT) is set to release its fourth quarter and full-year 2020 financial results on March 2, 2021. The company will hold a webcast meeting at 9:00 a.m. Eastern Time to discuss strategic and financial plans for 2021 and beyond. This session will provide insights into the business environment and strategic opportunities. Investors can access the presentation and Q&A online at Investors.Target.com. The webcast will be archived for 90 days. Target has nearly 1,900 stores and contributes 5% of profits to community initiatives.
Target Corporation (NYSE: TGT) announced an enhanced shopping experience for Apple products that will be available online and in select stores starting February 2021. This initiative builds on a 15-year partnership with Apple and aims to create a dedicated space for customers to explore Apple’s latest products, supported by specially trained Target Tech Consultants. The new shopping destinations will roll out in 17 stores initially, with more locations expected later this year. Customers can also enjoy benefits like 5% off purchases using the Target RedCard.
Target Corporation (NYSE: TGT) has announced significant changes in its executive leadership team to enhance growth strategies. Christina Hennington has been appointed executive vice president and chief growth officer, overseeing merchandising and enterprise strategy. Jill Sando takes on the role of chief merchandising officer. Rick Gomez becomes executive vice president and chief food and beverage officer, while Cara Sylvester is promoted to chief marketing and digital officer. Katie Boylan steps up as chief communications officer, expanding her responsibilities. These changes aim to strengthen Target's market position and capitalize on growth opportunities.
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