Target Corporation - TGT STOCK NEWS

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.

Target (NYSE: TGT) has announced the appointment of Amy Tu as its new chief legal and compliance officer and corporate secretary, effective August 25, 2024. Tu will oversee Target's legal affairs, compliance, and corporate governance functions, succeeding Don Liu, who is retiring but will continue as a strategic advisor until May 2025.

Tu brings extensive experience in legal and business leadership, having held senior roles at Walmart, The Gap, Boeing, and most recently as president of international operations at Tyson Foods. She will report directly to Brian Cornell, Target's chair and CEO, and join the company's leadership team.

This appointment aims to provide continuity in Target's legal affairs and compliance teams while supporting the company's growth strategy and enterprise priorities.

Target (NYSE: TGT) is launching its first chain-wide Denim Take Back Event from August 4-10, 2024. Consumers can recycle up to five used denim items of any brand at Target stores and receive a 20% discount on new denim apparel purchases through Target Circle. This initiative aims to promote sustainability by keeping used denim out of landfills while offering savings during the back-to-school shopping season.

The event allows customers to drop off denim in any condition at marked in-store boxes. The 20% discount applies to all denim apparel, including Target-owned and national brands. Shoppers can redeem the offer in-store, online, or via the Target app, with options for convenient fulfillment services. Target Circle Card holders can save an additional 5% on their denim purchase.

Target (NYSE: TGT) has launched extensive back-to-school and back-to-college savings initiatives. Highlights include 20 essential school supplies totaling under $20, and the lowest-priced backpack in over a decade at $5. Additionally, Target introduces Target Circle 360, a subscription service offering unlimited same-day delivery starting at $4.99 per month for students and $10.99 per month for all consumers. Special discounts for teachers and students, including 20% off on select items, are also available. The new School List Assist feature in the Target app helps families easily shop for school supplies.