Target Stock Price, News & Analysis

Target Corporation (NYSE: TGT) announced the pricing terms for its cash tender offers, aiming for an aggregate purchase price of $2.246 billion. These offers pertain to various debt securities with a total consideration including an early tender premium of $30 per $1,000 principal. The offers are designed to purchase all validly tendered securities before the Early Tender Deadline, which was set for October 6, 2020. The acceptance of these securities by Target is expected to occur by the early settlement date of October 8, 2020.

Target Corporation (NYSE:TGT) announced the results of its cash tender offers, with approximately $1.768 billion in debt securities validly tendered by the Early Tender Deadline on October 6, 2020. The company has increased the Maximum Tender Amount to allow purchase of all validly tendered securities. The Offers are set to expire on October 21, 2020, but Target anticipates no acceptances after the Early Tender Deadline. Eligible holders will receive a Total Consideration, including a $30 early tender premium per $1,000 principal amount. The early settlement date is expected on October 8, 2020.

Target Corporation (NYSE: TGT) is launching Target Deal Days on Oct. 13 and 14, featuring digital deals on over hundreds of thousands of items, representing more than double last year's offerings. This holiday season includes nearly 1 million more deals than last year, along with Black Friday pricing available throughout November and an extended Price Match Guarantee from Nov. 1 to Dec. 24. Guests can enjoy savings online and through contactless shopping options.

On September 24, 2020, Target (NYSE: TGT) announced its staffing strategy for the upcoming holiday season, emphasizing safety and convenience. The retailer plans to increase resources for contactless services, hire broadly, and allocate more hours to current employees. With over 10 million new online shoppers in the first half of 2020, Target aims to double store staff for Drive Up and Order Pickup services. Seasonal hiring is expected to match 2019 levels, with nearly 40% of seasonal employees likely to stay post-holiday. Target is offering a $15 minimum wage and comprehensive health benefits.

The board of directors of Target Corporation (NYSE:TGT) has declared a quarterly dividend of 68 cents per common share, payable on December 10, 2020, to shareholders of record by November 18, 2020. This dividend marks the 213th consecutive payment since the company went public in October 1967.

Target Corporation (NYSE:TGT) has initiated cash tender offers totaling up to $1.75 billion for various debt securities. The Offers are subject to proration and acceptance priority, with a scheduled expiration of October 21, 2020. Notably, holders who tender their securities by the early deadline will receive a total consideration that includes a $30 early tender premium per $1,000. The maximum tender amount allows Target to adjust its purchase limits without extending deadlines. Detailed terms and calculations regarding the securities are outlined in the Offer to Purchase.

Target Corporation (NYSE: TGT) appointed Maurice Cooper as the new senior vice president of marketing, effective Sept. 14. Cooper brings extensive experience from roles at Wingstop, Intercontinental Hotels Group, and Coca-Cola. He will oversee marketing strategies with a focus on consumer engagement and brand growth. Rick Gomez, Target's chief marketing officer, expressed confidence in Cooper's ability to enhance Target's marketing approach. Target continues to evolve and aim for greater consumer connection and brand affinity.

Target Corporation (NYSE: TGT) has appointed Christine A. Leahy and Derica W. Rice to its board of directors. Leahy, CEO of CDW, brings extensive experience in technology solutions, effective January 1, 2021. Rice, former EVP at CVS Health, returns to Target's board, effective August 31, 2020, after previously serving until January 2018. The chairman, Brian Cornell, emphasized their expertise in enhancing the board's capabilities during challenging times. Leahy's and Rice's backgrounds aim to support Target's growth and strengthen guest trust.

Target Corporation reported exceptional second quarter 2020 results, with comparable sales growth of 24.3%, the highest in its history. Store sales increased 10.9%, while digital sales surged 195%, contributing significantly to total sales. GAAP EPS reached $3.35, up 84.4% year-over-year. Market share increased by $5 billion across five categories. Operating income rose to $2.3 billion, marking a 73.8% increase from the previous year, driven by strong sales performance despite substantial investments in team members during the pandemic.