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Target Corp.

Target reports strong holiday gains, announces leadership changes

Target reports strong holiday gains, announces leadership changes

MINNEAPOLIS — Target Corp. on Thursday reported strong sales gains for the November/December holiday sales period, and reiterated its sales and earnings guidance for the full year. The company also announced changes in its executive ranks, including the planned retirement of chief financial officer Cathy Smith. Target’s holiday sales performance included a 5.7% comparable store sales

Target intros Smartly, a new essentials brand with items under $2

Target intros Smartly, a new essentials brand with items under $2

MINNEAPOLIS — Target Corp. has introduced Smartly, a new lower-priced owned brand comprised of more than 70 items, such as hand soap, paper plates, household cleaners and razors, with most items less than $2. The collection will arrive in stores and on Target.com beginning Oct. 14  and will be available year-round. “Over the past few years, Target has launched more

Target’s Brian Cornell becomes RILA chairman

Target’s Brian Cornell becomes RILA chairman

ARLINGTON, Va. — Target Corp. chairman and chief executive officer Brian Cornell has been elected as chairman of the Retail Industry Leaders Association (RILA). The association said Cornell was named RILA chairman yesterday at its board of directors’ semiannual meeting in Tucson, Ariz. Serving a two-year term, he takes the chairman’s reins from Bill Rhodes, chairman

Target tallies stronger-than-expected holiday sales

Target tallies stronger-than-expected holiday sales

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,

Target to buy Shipt for $550 million

Target to buy Shipt for $550 million

MINNEAPOLIS — Target Corp. has agreed to acquire the same-day delivery company Shipt Inc. for $550 million in cash. Target said Wednesday that it will use Shipt’s proprietary technology platform and community of shoppers, along with its store network, to quickly and efficiently bring same-day delivery to consumers nationwide. Plans call for Target to offer

Chains step up as Hurricane Irma takes toll on business

NEW YORK — Hurricane Irma, one of the most powerful storms ever to hit the United States, sent retail spending in the Miami, Fort Lauderdale and West Palm Beach area of Florida spiraling downward, with sales plunging more than 72% over a three-day period, according to payment technology company First Data Corp. The company, which

Most of all, today’s beauty shoppers want value

Most of all, today’s beauty shoppers want value

NEW YORK — The secret weapon in the battle for the $62 billion that U.S. customers spend on beauty care and cosmetics just might be something mass retailers had all along — steep values. While drug, discount and supermarket chains have burnished their image in beauty with illumination, upgraded products and elevated service, it turns

Recovery from Hurricane Harvey begins

Recovery from Hurricane Harvey begins

ARLINGTON, Va. — Though Hurricane Harvey has dissipated, it has left many in the Greater Houston area as well as parts of southwestern Louisiana reeling in its aftermath. From initial estimates it appears Harvey’s economic impact will be every bit as staggering as its winds were. Financial analysis firm Moody’s Analytics tallies the costs of

Retailers lend hand in Hurricane Irma relief

Retailers lend hand in Hurricane Irma relief

NEW YORK — Retailers stepped forward to help with relief efforts for Hurricane Irma even as they continued their own recovery efforts to get stores and other facilities back into operation. Across Florida, where Irma made landfall in the continental United States last Saturday, drug chains, supermarkets and mass merchandisers shuttered stores as winds topping

Target’s Cornell: Border tax would hike prices

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

Walmart, Target give cause for optimism

Walmart, Target give cause for optimism

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

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