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 a new limited-edition collection in collaboration with Levi Strauss & Co. (NYSE: LEVI), marking Levi's first Home partnership. This collection, launching on Feb. 28, 2021, includes over 100 durable and thoughtfully-designed items such as tableware, quilts, and pet apparel, priced from $3 to $150. The partnership aims to inspire sustainable living while offering unique products unavailable elsewhere. Target plans to feature curated displays in 500 stores by Fall 2021, emphasizing their commitment to strategic partnerships to enhance customer offerings.
Target Corporation (NYSE: TGT) has declared a quarterly dividend of 68 cents per common share, payable on March 10, 2021 to shareholders of record by the close of business on February 17, 2021. This marks the 214th consecutive dividend since the company went public in October 1967. The announcement reaffirms Target's ongoing commitment to returning value to shareholders.
Target Corporation (NYSE: TGT) reported a 17.2% increase in comparable sales for the November/December period, with a 102% surge in digital sales. In-store sales also rose by 4.2% with traffic up 4.3% and average ticket sizes growing 12.3%. The company notably excelled in same-day services, experiencing a 193% growth, particularly with Drive Up exceeding 500%. Target gained market share in all five core categories, especially in Home and Hardlines, further establishing its retail position.
Target Corporation (NYSE: TGT) is enhancing last-minute holiday shopping with contactless same-day pickup and delivery options available until 5 p.m. on December 24. Customers can utilize free Order Pickup and Drive Up services for thousands of items, and Same-Day Delivery through Shipt. Target increased Drive Up parking spaces by nearly 8,000 and dedicated double the team members for expedited service. These efforts ensure guests can safely acquire gifts and essentials up until Christmas Eve, all without needing a membership.
Target Corporation (NYSE: TGT) announced its largest-ever Cyber Week event, starting Nov. 29 through Dec. 5. The sale features significant discounts across various categories, including electronics, toys, and home décor. New this year, Target introduces two digital "Flash Sales" on Cyber Monday, offering exclusive deals. Notably, Target promises same-day delivery and pickup options, enhancing convenience for shoppers. The Cyber Week event underscores Target's commitment to providing deeper savings and an improved shopping experience.
Target is enhancing its holiday shopping experience with "Black Friday Now" deals, prioritizing guest safety. As of mid-November, millions of guests are utilizing contactless same-day services like Drive Up and Order Pickup, significantly increasing engagement compared to last year. Popular items include TCL TVs, Apple Watches, and kitchen appliances. Target Circle members benefit from exclusive deals, earning 1% back on purchases. Price adjustments on advertised deals are available until December 24. Target stores will be closed on Thanksgiving, with online deals accessible until stores open on November 27.
Target reported a strong third quarter in 2020, with comparable sales growing by 20.7% and digital sales increasing 155%. Total revenue reached $22.6 billion, a 21.3% increase from last year. GAAP EPS from continuing operations was $2.01, up 46.3%, while Adjusted EPS rose 105.1% to $2.79. Operating income surged 93.1% to $1.9 billion, with a 30.6% gross margin. The company gained over $6 billion in market share and plans to resume share repurchases in 2021.
Target Corporation (NYSE:TGT) will host a webcast for its 3rd quarter earnings conference call on November 18, 2020, at 7:00 a.m. Central Time. Investors and media can access the call through the company’s website. Target operates nearly 1,900 stores and contributes 5% of its profits to local communities. For more information and to join the call, visit investors.target.com.
Target Corporation (NYSE: TGT) has announced its "Black Friday Now" sales event, featuring week-long sales throughout November 2020. The initiative aims to enhance shopping convenience and confidence with a new Price Match Guarantee, ensuring customers get the best deals at any time. Starting Nov. 1, shoppers can find discounted electronics and home essentials, with specific deals previewed weekly. The Price Match Guarantee allows for price adjustments on advertised deals until Dec. 24, reinforcing Target's commitment to customer savings.
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