Target Stock Price, News & Analysis

Target Corporation reported a robust Q4 2020 with a 20.5% increase in comparable sales, driven by a 118% surge in digital sales and 212% growth in same-day services. The GAAP EPS reached $2.73, up from $1.63 in 2019, while full-year sales grew by $15 billion, representing a historical achievement. Target gained approximately $9 billion in market share in 2020. Despite uncertainties, no guidance for FY2021 was provided. Operating income surged 53.2% to $1.8 billion with improved margins, although supply chain costs pressured profits.

Target Corporation (NYSE: TGT) is set to release its fourth quarter and full-year 2020 financial results on March 2, 2021. The company will hold a webcast meeting at 9:00 a.m. Eastern Time to discuss strategic and financial plans for 2021 and beyond. This session will provide insights into the business environment and strategic opportunities. Investors can access the presentation and Q&A online at Investors.Target.com. The webcast will be archived for 90 days. Target has nearly 1,900 stores and contributes 5% of profits to community initiatives.

Target Corporation (NYSE: TGT) announced an enhanced shopping experience for Apple products that will be available online and in select stores starting February 2021. This initiative builds on a 15-year partnership with Apple and aims to create a dedicated space for customers to explore Apple’s latest products, supported by specially trained Target Tech Consultants. The new shopping destinations will roll out in 17 stores initially, with more locations expected later this year. Customers can also enjoy benefits like 5% off purchases using the Target RedCard.

Target Corporation (NYSE: TGT) has announced significant changes in its executive leadership team to enhance growth strategies. Christina Hennington has been appointed executive vice president and chief growth officer, overseeing merchandising and enterprise strategy. Jill Sando takes on the role of chief merchandising officer. Rick Gomez becomes executive vice president and chief food and beverage officer, while Cara Sylvester is promoted to chief marketing and digital officer. Katie Boylan steps up as chief communications officer, expanding her responsibilities. These changes aim to strengthen Target's market position and capitalize on growth opportunities.

Target Corporation (NYSE: TGT) announced a new limited-edition collection in collaboration with Levi Strauss & Co. (NYSE: LEVI), marking Levi's first Home partnership. This collection, launching on Feb. 28, 2021, includes over 100 durable and thoughtfully-designed items such as tableware, quilts, and pet apparel, priced from $3 to $150. The partnership aims to inspire sustainable living while offering unique products unavailable elsewhere. Target plans to feature curated displays in 500 stores by Fall 2021, emphasizing their commitment to strategic partnerships to enhance customer offerings.

Target Corporation (NYSE: TGT) has declared a quarterly dividend of 68 cents per common share, payable on March 10, 2021 to shareholders of record by the close of business on February 17, 2021. This marks the 214th consecutive dividend since the company went public in October 1967. The announcement reaffirms Target's ongoing commitment to returning value to shareholders.

Target Corporation (NYSE: TGT) reported a 17.2% increase in comparable sales for the November/December period, with a 102% surge in digital sales. In-store sales also rose by 4.2% with traffic up 4.3% and average ticket sizes growing 12.3%. The company notably excelled in same-day services, experiencing a 193% growth, particularly with Drive Up exceeding 500%. Target gained market share in all five core categories, especially in Home and Hardlines, further establishing its retail position.

Target Corporation (NYSE: TGT) is enhancing last-minute holiday shopping with contactless same-day pickup and delivery options available until 5 p.m. on December 24. Customers can utilize free Order Pickup and Drive Up services for thousands of items, and Same-Day Delivery through Shipt. Target increased Drive Up parking spaces by nearly 8,000 and dedicated double the team members for expedited service. These efforts ensure guests can safely acquire gifts and essentials up until Christmas Eve, all without needing a membership.

Target Corporation (NYSE: TGT) announced its largest-ever Cyber Week event, starting Nov. 29 through Dec. 5. The sale features significant discounts across various categories, including electronics, toys, and home décor. New this year, Target introduces two digital "Flash Sales" on Cyber Monday, offering exclusive deals. Notably, Target promises same-day delivery and pickup options, enhancing convenience for shoppers. The Cyber Week event underscores Target's commitment to providing deeper savings and an improved shopping experience.