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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Target Corp | NYSE:TGT | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
-11.30 | -7.25% | 144.48 | 145.62 | 139.98 | 140.51 | 12,747,939 | 17:41:40 |
MINNEAPOLIS, March 5, 2024 /PRNewswire/ -- Target Corporation (NYSE: TGT) today announced plans to invest in its guest experience and long-term growth with a focus on:
"For years, Target has consistently built for the long-term, investing in the assets, capabilities and team that have differentiated our business, enabled us to deliver for guests in any environment and driven strong growth," said Brian Cornell, chair and chief executive officer, Target. "Today, with that same long-term view, we're making strategic investments that expand on our core strengths, further elevate our guest experience and deepen our connection to both current and new guests. Most importantly, these plans provide fuel for our next era of growth."
New Target Circle
On April 7, Target will reintroduce its loyalty membership program, Target Circle, with a suite of memberships that build on each other, including the continuation of a free-to-join membership, retail payment card options and a new paid membership. Target Circle is already one of retail's largest loyalty programs with more than 100 million members saving millions of dollars each year. The changes reflect Target Circle members' desire for an even easier and more personalized shopping and saving experience.
Membership options include:
New benefits like exclusive partnerships and experiences, product offers and more will be added to Target Circle over time.
New and expanded Target brands
In 2024, Target plans to launch and expand several owned brands to offer a wider range of options across categories, products and prices, including:
Target owned brands provide a combination of quality, style, performance and value, and drove more than $30 billion in sales in 2023.
Continued stores and supply chain investments
Target will continue investing in its stores-as-hubs model during the next decade with plans to:
To stay updated on Target's strategy and initiatives, visit corporate.target.com.
Miscellaneous
Statements in this release regarding the company's future financial performance, planned investments in its business, enhancements to its loyalty program, expansion of its owned brand portfolio, new store openings and remodels, and enhancement of its supply chain operations are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are subject to risks and uncertainties which could cause the company's results to differ materially. The most important risks and uncertainties are described in Item 1A of the company's Form 10-K for the fiscal year ended January 28, 2023. Forward-looking statements speak only as of the date they are made, and the company does not undertake any obligation to update any forward-looking statement.
About Target
Minneapolis-based Target Corporation (NYSE: TGT) serves guests at nearly 2,000 stores and at Target.com, with the purpose of helping all families discover the joy of everyday life. Since 1946, Target has given 5% of its profit to communities, which today equals millions of dollars a week. Additional company information can be found by visiting the corporate website and press center.
1 Target Circle™ Card: Target Debit Card, Target Credit Card, Target™ Mastercard®, and Target Circle Card Account (Target Circle Card Reloadable Account). Subject to application approval and identity verification. The Target Circle debit card is issued by Target Corporation. The Target Circle credit cards (Target Credit Card and Target Mastercard) are issued by TD Bank USA, N.A. Mastercard is a registered trademark of Mastercard International, Inc. Target Circle Card Account is a demand deposit account established by Pathward®, N.A., Member FDIC, and card is issued by Pathward pursuant to a license from Visa U.S.A. Inc. Card can be used everywhere Visa debit cards are accepted. Funds are FDIC insured, subject to applicable limitations and restrictions, when we receive the funds deposited to your account.
2 Restrictions apply. Subject to application approval and identity verification. See Target.com/circleannounce for program rules and details.
3 2-Day Shipping: When you pay with your Target Circle Card (debit, credit, and reloadable) or are a Target Circle 360 member get free 2day shipping on hundreds of thousands of items. Eligible items will be noted on the product detail page, in cart & at check out. See Target.com/2dayshipping for details.
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SOURCE Target Corporation
Copyright 2024 PR Newswire
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