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Brian Cornell

Target CEO: CVS deal represents ‘significant shift’

Target CEO: CVS deal represents ‘significant shift’

MINNEAPOLIS — With CVS Health running Target Corp.’s pharmacies and clinics, the discount chain will be better able to focus on providing wellness products and services throughout its stores, according to Target chairman and chief executive officer Brian Cornell. “This exciting partnership represents a significant shift in our business model and will have notable benefits

CVS Health to buy Target’s pharmacy business

CVS Health to buy Target’s pharmacy business

WOONSOCKET, R.I. – CVS Health plans to acquire Target Corp.’s U.S. pharmacy and retail health clinics businesses for about $1.9 billion. CVS said Monday that it will buy more than 1,660 Target pharmacies across 47 states and operate them through a store-within-a-store format and that every new Target store that offers pharmacy services will include

First-quarter results portend challenging year

First-quarter results portend challenging year

The fiscal first quarter of 2015 is in the books for many of the largest retailers, and the results tend to bear out the idea that the current year will be one of struggle and uncertainty despite signs that the economy is rebounding from the recession that plagued it so sorely in recent years. The

Target outlines ‘path to growth’

MINNEAPOLIS — Target Corp. revealed its plan for future growth at its recent investors’ conference here. In addition to fine-tuning its merchandising, the plan calls for the elimination of thousands of headquarters jobs in order to achieve savings of $2 billion. “Following a thorough strategic review of our business, coupled with a careful evaluation of

Target plans $2 billion in cost cuts in transformation strategy

Target plans $2 billion in cost cuts in transformation strategy

MINNEAPOLIS — Target Corp. has unveiled a turnaround plan based on streamlining its headquarters operations to cut costs, boosting its information technology and supply chain investments, and adjusting its merchandise mix to strengthen its relationship with its most loyal consumers. The discount store chain’s growth plans, announced late Tuesday following an event for the investor

Target calls it quits in Canada

MINNEAPOLIS — Target Corp. has decided to end its costly foray into the Canadian market less than two years after opening the first of its current 133 stores in the country. The retailer reported in mid-January that “after a thorough review” it determined that the best decision for the company would be to wind down the

Target decides to pull plug on Canada operations

MINNEAPOLIS — With its stores north of the border struggling to achieve profitability, Target Corp. has begun efforts to discontinue its Canadian operations. The discount store retailer said Thursday that its subsidiary Target Canada Co. has filed an application for protection under the Companies’ Creditors Arrangement Act (CCAA) with the Ontario Superior Court of Justice

Exec duties expanded at Target

MINNEAPOLIS — Target Corp. chief executive officer Brian Cornell has announced several leadership changes. Casey Carl, Target’s president of omnichannel, will take on the newly created role of chief strategy and innovation officer and will report directly to Cornell. Carl will oversee a new center of excellence in data, analytics and business intelligence, an effort