Target is investing $5 million in a coalition of cyber-security organizations to launch a marketing campaign to educate the public about phishing scams and security, the mass merchandise retailer said.
Target Corp. posted sales of $17.3 billion in third-quarter 2013, a 4% increase over the same period last year, and a $341 million profit, down by 46.4% from a year ago, the mass merchandise retailer said Thursday.
Target is donating $25,000 for relief efforts in Colorado following devastating floods there, the mass merchandise retailer said Thursday. The donation includes $20,000 for the American Red Cross and $5,000 in food, water and baby items.
Colder weather and more conservative shoppers contributed to a drop in Target Corp.'s first quarter 2013 profits, but the company's underlying business remains healthy, executives said Wednesday morning in a conference call with investors.
Target is planning a rollout in Canada that will be bigger than any single year's worth of its store openings in the United States ever, executives of the company said Wednesday morning in a call with Wall Street analysts to discuss the mass merchandise retailer's fourth-quarter and full-year 2012 results.
The Retail Industry Leaders Association is urging President Barack Obama and Gov. Mitt Romney to consider the retail industry's role in the U.S. economy as the presidential candidates "advance their visions for the future."
Target reported a 7% same-store sales increase in February that shattered the company’s guidance for a 4% gain, thanks to unseasonably warm weather, which boosted shopper traffic and transaction sizes.
Target has promoted John Mulligan to the position of EVP and CFO, effective April 1. Mulligan currently serves as SVP finance. He replaces Doug Scovanner, Target’s EVP and CFO for the past 18 years, who announced his retirement in November 2011.
Target chairman, president and CEO Gregg Steinhafel assured investors last month that December comps would exceed November’s 1.8% increase, but then Thursday morning reported a disappointing 1.6% increase and a reduced profit forecast.