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 (NYSE: TGT) has announced plans to reduce regular prices on over 2,000 items across owned and national brands this holiday season. This initiative is part of a larger effort that will see price cuts on more than 10,000 items by the end of the year. The reductions cover a wide range of products including food, beverages, everyday essentials, and holiday gifts.
These new price reductions are in addition to Target's everyday low prices and follow a previous announcement in May to cut prices on about 5,000 items. The company has already surpassed this goal, lowering prices on over 8,000 items year to date. Target aims to help consumers save money while enjoying the holiday season, offering competitive pricing on items needed for meal prep, gifting, and everyday needs.
Examples of price reductions include popular items like LEGO sets, toys, cooking oils, and personal care products. Target is also promoting its largest holiday assortment ever, featuring thousands of toys with over half priced under $20. The company's Target Circle program offers additional savings opportunities for shoppers.
Target (NYSE: TGT) has announced two exclusive Taylor Swift releases available only at Target starting Black Friday. The first is the official 'Taylor Swift | The Eras Tour Book', a 256-page hardcover book priced at $39.99, featuring over 500 images, including never-before-seen performance and rehearsal photos, along with personal reflections by Taylor Swift. The second is 'The Tortured Poets Department: The Anthology', available for the first time on vinyl ($59.99) and CD ($17.99), featuring 35 tracks including four acoustic bonus songs.
Both items will be available exclusively in Target stores on Black Friday, November 29, and on the Target app and website starting November 30. The vinyl version includes a never-before-seen 12x12 inch poster of Taylor. This release follows Target's exclusive Phantom Clear vinyl version of 'The Tortured Poets Department' from earlier this spring, which set a record for Target's largest music pre-order in its history.
Target (NYSE: TGT) has unveiled its 2024 Bullseye's Top Toys list, featuring over 60 must-have items with nearly half exclusive to Target. Prices start at $7.99, and over half of the full toy assortment is priced under $20. The list includes popular brands like LEGO, Disney, FAO Schwarz, and Star Wars, as well as items from Target's Bullseye-branded collection.
Target is introducing weekly toy drops and promotions with discounts up to 50% on select items throughout the holiday season. The retailer is expanding its Bullseye-branded toys assortment with 11 new items, including a Jumbo Bullseye Plush for $25 and exclusive Barbie dolls. Starting in November, over 200 Target stores will feature a new Bullseye-themed display.
Shoppers can save through the free Target Circle program and enjoy additional benefits with the Target Circle Card and Target Circle 360 paid program.
Target (NYSE: TGT) announced the return of Target Circle Week, its biggest fall sale, from Oct. 6-12. This seven-day event offers savings of up to 50% off for members of the free Target Circle program. Deals include discounts on fall favorites, holiday gifting items, and everyday essentials.
Key offers include:
- Spend $40 on beauty and health items, receive a $10 Target GiftCard
- 30% off sweatshirts, sweaters, and bottoms
- Buy one, get one 50% off Halloween costumes and candy
- Up to 30% off select LEGO sets
The popular Deal of the Day feature returns, offering exclusive one-day deals for Target Circle members. Additionally, consumers who enroll in a Target Circle 360 annual membership during this period will receive $50 off their next same-day delivery order of $50 or more.
Target (NYSE: TGT) has announced the appointment of Jim Lee as its new Chief Financial Officer, effective September 22, 2024. Lee, with over 25 years of experience at PepsiCo, will oversee Target's finance function and join its leadership team. He succeeds Michael Fiddelke, Target's chief operating officer.
Lee's responsibilities will include financial planning and analysis, accounting, investor relations, treasury, tax, risk, and corporate development. His extensive experience includes roles as PepsiCo's deputy CFO and leadership positions in various international markets. Target's CEO, Brian Cornell, expressed confidence in Lee's ability to drive the company's long-term profitable growth.
Target (NYSE:TGT) has announced its 229th consecutive quarterly dividend since going public in 1967. The board of directors has declared a dividend of $1.12 per common share, payable on December 10, 2024, to shareholders of record as of November 20, 2024. This announcement demonstrates Target's commitment to returning value to shareholders and maintaining its long-standing dividend policy.
Target (NYSE: TGT) has announced its plans for the 2024 holiday season, featuring its largest holiday assortment ever with more deals and savings opportunities. Key highlights include:
1. Target Circle Week from Oct. 6-12, offering seven days of deals for early holiday shoppers.
2. An expanded holiday assortment with 50% more new items than last year, including exclusive products and partnerships.
3. Affordable options with over half of holiday toys under $20 and thousands of stocking stuffers under $5.
4. The return of the popular Deal of the Day program starting Nov. 1.
5. Plans to hire approximately 100,000 additional seasonal team members to support the holiday shopping experience.
Target (NYSE: TGT) is launching 'The Cuddle Collab', its first exclusive collection for pets and pet lovers, on September 21, 2024. The collection features over 180 items inspired by six social media 'fur-fluencers', with prices starting at $3. Products include matching accessories for pets and humans, home décor, toys, treats, and apparel.
The collection aims to celebrate pets as family members, catering to the 70% of Target guests who are pet owners. It will be available in most Target stores and online. To promote the launch, Target is hosting in-store events, creating a reality-style social series called 'The Pets of Tarjay', and running a national advertising campaign featuring Bullseye and other pets taking over a Target store.
Target (NYSE: TGT) reported strong Q2 2024 financial results, with comparable sales up 2.0% and digital sales growing 8.7%. The company saw a 3% increase in traffic across all core merchandising categories. GAAP and Adjusted EPS rose 42.8% to $2.57, driven by sales growth and improved gross margin. Operating income margin increased to 6.4%, up 160 basis points year-over-year.
Target raised its full-year EPS guidance to $9.00-$9.70, up from $8.60-$9.60. For Q3, the company expects 0-2% comparable sales growth and EPS of $2.10-$2.40. The company's focus on growth, margin expansion, and strong digital performance, particularly in same-day services, positions it well for continued success.
Target (NYSE:TGT) has announced its upcoming second quarter earnings conference call, scheduled for Wednesday, August 21, 2024, at 7:00 a.m. central time. Investors and media are invited to listen to the webcast through the company's website at Corporate.Target.com/Investors. Target, based in Minneapolis, operates nearly 2,000 stores and Target.com, focusing on helping families discover everyday life's joy. The company has a long-standing commitment to community support, donating 5% of its profit since 1946, which currently amounts to millions of dollars weekly.
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