MINNEAPOLIS — Target Corp. said holiday sales rose more than forecast, with sales at stores open at least a year climbing 3.4% in November and December. Target holiday sales and traffic were higher both in stores and online during the period, the discount store retailer reported Tuesday. “We are very pleased with our holiday season performance,
WASHINGTON — Target Corp. chairman and chief executive officer Brian Cornell spoke for much of the retail industry when he testified before the House Ways and Means Committee last month that the proposed Border Adjustment Tax would raise prices for American consumers. Under the border tax, “American families — your constituents — would pay more
In late May, both Walmart and Target Corp. issued their quarterly performance numbers. Each revealed some surprises, and both left those retailing authorities who still retain some faith in the business a bit more optimistic than they had been. Here’s a look at the numbers: First, Walmart. Most surprising here was the revelation that the
MINNEAPOLIS — Target Corp. today said net income increased to $681 million, or $1.23 a share, in the first quarter, a 7.7% increase from $632 million, or $1.05 a share, reported a year ago. Same-store sales slid 1.3% in the period, as store traffic continued to decline. Overall revenue fell 1.1% to $16 billion, down
MINNEAPOLIS — Target Corp. posted decreased sales and earnings for its fiscal 2016 fourth quarter and year, impacted by the sale of its pharmacy and clinic business to CVS Health. Target said Tuesday that sales for the fourth quarter ended Jan. 28 fell 4.3% to $20.7 billion from $21.6 billion last year, reflecting a 1.5%
WASHINGTON — A group of retail executives, including Walgreens Boots Alliance executive chairman and chief executive officer Stefano Pessina, met with President Donald Trump earlier this month to discuss issues related to imports and changes to the tax code. The meeting was a scheduled event with the Retail Industry Leaders Association (RILA). “The retail industry
WASHINGTON — Promoting his economic platform with business leaders, President Donald Trump today met with top retail executives at the White House. Focusing on Trump’s plank of job creation, simplification of the tax code and reduced regulatory red tape, the Wednesday morning meeting was a scheduled event with the Retail Industry Leaders Association (RILA). The
MINNEAPOLIS — Target Corp. has named Rick Gomez to the position of executive vice president and chief marketing officer. Gomez succeeds Jeff Jones, who left the company in September to join Uber Technologies Inc. In his new role, Gomez will be responsible for furthering Target’s brand positioning and leading the integration of all the retailer’s
MINNEAPOLIS — Target Corp. executive vice president and chief marketing officer Jeff Jones is leaving the company to join online car service company Uber. Target said Tuesday that Jones is leaving the company effective Sept. 9. Jones, who has served as Target’s top marketer since 2012, will become the president of ride sharing at Uber,
MINNEAPOLIS — Target Corp. posted a 7.2% decrease in revenue and a 9.7% decline in net earnings for the second quarter. Target said Wednesday that adjusted earnings per share were $1.23 for the second quarter ended July 30, well above analysts’ projections of $1.13, on revenue of nearly $16.2 billion, which was in line with
MINNEAPOLIS — Target Corp. has hired Mark Tritton as its chief merchandising officer, a role that allows him to determine what appears on store shelves. Tritton will have oversight of the company’s buying, product design and development, sourcing, and store displays. Target hired Tritton after a yearlong search. He succeeds Kathee Tesija, a Target veteran
MINNEAPOLIS — Nordstrom executive Mark Tritton has joined Target Corp. as executive vice president and chief merchandising officer. Target said Tuesday that Tritton will oversee enterprise buying, product design and development, sourcing, visual merchandising strategy, and merchandising transformation and operations. “I’m proud to be joining Target, a brand that I’ve long studied and admired,” Tritton
NEW YORK — Racher Press Inc., the publisher of Chain Drug Review and Mass Market Retailers, presented its 2015 Retailer of the Year awards last evening in New York City. The annual event drew retailer and supplier executives from across the food, drug and mass channel to a ballroom at the new headquarters of Time
WESLEY CHAPEL, N.C. — CVS Health has debuted its first rebranded pharmacies inside Target Corp. stores. The pharmacies, in six stores in North Carolina, are being operated through a store-within-a-store format under the CVS/pharmacy banner. CVS, which completed its $1.9 billion purchase of Target’s 1,672 pharmacies and 79 clinics in December, will rebrand the prescription
