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TARGET

  • Grocery gains again fuel Target’s comp growth

    MINNEAPOLIS — February same-store sales at Target advanced 1.8%, thanks to the addition of fresh food and consumables that are part of an aggressive remodeling program causing more people to shop its stores.

    The company said more than half of its February same-store sales gain were driven by an increase in transactions combined with a small increase in the average transaction size. The 1.8% gain comes on top of a 2.4% increase in February 2010.

  • Tattooed By Inky debuts at Target

    MINNEAPOLIS — Apna International has launched at Target a new fragrance collection called Tattooed By Inky, which features fragrances for both men and women.

    The collection of body sprays is geared toward a young and trendy audience. The Tattooed By Inky collection features five scents — two for men, two for women and one unisex.

    The body sprays are priced at $5.99 each and include:

    • Monkey Business (male), which has a blend of leather, lavender, pepper and sandalwood;

  • P&G slims down Tide, Gain with compacted powder laundry detergents

    CINCINNATI — Procter & Gamble is letting Target customers know that great things come in small packages as it launches new Tide and Gain compacted powder laundry detergents.

    The compacted Tide and Gain detergents, which offer the same number of loads in a smaller box, could save up to 22 million lbs. of total packaging in the United States and Canada each year, P&G said. The company said that in addition to the Tide and Gain launch at Target, P&G also will introduce compacted formulas for Cheer, Dreft and Ivory Snow.

  • Target turns in a solid year

    MINNEAPOLIS — Fourth-quarter earnings per share at Target advanced 17% to $1.45, compared with $1.24 the prior year, thanks to a seven-cent-per-share tax benefit.

    Quarterly profits were slightly more than $1 billion, compared with $936 million the prior year. Fourth-quarter sales increased 2.8% to $20.3 billion, compared with $19.7 billion in the prior year, and were aided by a 2.4% increase in same-store sales.

  • Report: Target forms executive committee to direct political giving

    MINNEAPOLIS — Mass merchandiser Target has changed its political donation policies following a controversy that erupted last year over a donation to a socially conservative political group, according to published reports.

    The Washington Blade, a gay and lesbian newspaper, reported Thursday that Target had formed a policy committee comprising senior executives that would direct political giving.

  • Target to open small-format store in Chicago

    MINNEAPOLIS — Another Target store is coming to downtown Chicago, as the retailer disclosed it would open a small-format store under the new CityTarget banner in the Sullivan Center at South State Street and Madison Street.

  • Target to sell deluxe edition of Lady Gaga's new album

    MINNEAPOLIS — Pop singer Lady Gaga has partnered with mass merchandise retailer Target to allow customers to pre-order a deluxe edition of her new album, “Born This Way.” Customers can order the album through Target and download the title track for free at Target.com/Gaga until Feb. 26.

  • Target hopes PFresh, savings program will drive sales

    MINNEAPOLIS — Target said that although its comparable-store sales were below expectations in the South and Northeast, the company believes overall sales will be driven by two of its recent initiatives.

    Target chairman, president and CEO, Gregg Steinhafel, said that while the company "expects the economy to remain challenging, Target's PFresh remodel program and REDcard Rewards 5% savings program continue to operate in line with expectations."

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