Target® Corporation (NYSE TGT) is an upscale discount retailer that provides high-quality, on-trend merchandise at attractive prices in clean, spacious and guest-friendly stores. In addition, Target operates an online business, Target.com. Minneapolis-based Target serves guests at 1,924 stores - 1,797 in the United States and 127 in Canada – and at Target.com.
As a publicly-owned, U.S.-based company, Target has a global presence with a headquarters location in India and sourcing offices around the world. In addition, the company operates a credit card segment that offers branded proprietary credit card products and rewards programs. Target also has more than 355,000 team members worldwide and is consistently recognized as an employer of choice.
The first Target store opened in 1962 in the Minneapolis suburb of Roseville, Minn., with a focus on convenient shopping at competitive discount prices. Today, Target remains committed to providing a one-stop shopping experience for guests by delivering differentiated merchandise and outstanding value with its Expect More. Pay Less® brand promise. Target currently is the second largest general merchandise retailer in America, with Target.com consistently being ranked as one of the most-visited retail Web sites.
In January 2011, Target announced its plans to acquire the leasehold interests in up to 220 sites currently operated by Zellers Inc., a subsidiary of the Hudson’s Bay Company (HBC), and open stores in Canada. Beginning in March/early April 2013, Target intends to open 125-135 stores across every province of the country. Approximately $10 million to $11 million will be invested to remodel each facility in order to bring the full Target brand experience to guests in Canada. Target is committed to building a talented and dedicated team in Canada, where each store will employ approximately 150-200 team members.
Target is recognized as a leader in innovation across the retail industry. From pioneering the concept of designer partnerships to consistently being best in class in store design, Target remains focused on not only meeting, but exceeding, its guests’ needs. To remain relevant to its guests over time, Target continually reinvents its stores, including layout, presentation and merchandise assortment, to create an engaging shopping experience.
Target is dedicated to providing guests with the right merchandise mix, from everyday commodities and grocery offerings to trend-right home and apparel lines. In 1999, Target embarked on its first design partnership with renowned designer Michael Graves. Since then, Target has partnered with well-known names such Missoni and Sonia Kashuk, along with other top designers, to create exclusive merchandise. In addition, Target stocks its shelves with an extensive variety of trusted national brands across all categories. Target continues to reinforce its value position and commitment to low prices through differentiated marketing campaigns and owned brand product offerings. Owned brands lines, such as up & up™ and Market Pantry®, present guests with the quality of a national brand at a fraction of the price.
Target is the preferred shopping destination for millions of guests each day, and remains committed to its legacy of responsible corporate citizenship, ethical business practices, environmental stewardship and generous community support. Since 1946, the corporation has given 5 percent of its profit to communities through grants and a variety of programs like Take Charge of Education®. Today, that giving equals more than $3 million a week, largely directed towards supporting education. Additional information regarding Target’s commitment to corporate responsibility can be found at Target.com/HereForGood.
Chairman, President and Chief Executive Officer
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Median age of 40
Median household income of approximately $64K
Approximately 43% have children at home
About 57% have completed college
For additional corporate information, visit www.target.com/investors