Target Stock Price, News & Analysis

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.

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.