Founded in 1962 and headquartered in Minnesota, Target is a leading US general merchandise retailer with more than 1,800 stores and a presence in all 50 US states. Under the tagline “Expect More. Pay Less” the retailer aims to deliver quality and value for money.
Its general merchandise stores aim to sell high-quality designs at affordable prices across major categories including clothing, accessories, beauty, electronics, food and beverage, and home.
Target sells own-label and branded items but is known for its high-profile designer collaborations and exclusives, which drive footfall to the stores.
Stores are typically around 130,000 sq ft in size and situated in shopping centres and retail parks. In recent years the company has opened smaller-format stores in high-footfall urban locations such as city centres and college campuses, where a larger store format would not fit. These are around a quarter of the size at an average of 40,000 sq ft.
Its subsidiaries also include Shipt, Grand Junction and DermStore.
There may be empty spaces in the Big Apple’s shopping districts, but there is also much to draw the eye. John Ryan reports.
Target IT boss Mike McNamara has cut the retailer’s tech budget, despite hiring 700 new engineers to drive its focus on technology.
Bunnings owner Wesfarmers has unveiled an increase in third-quarter sales as it gears up for an assault on the UK DIY market.
Retail round-up on April 19, 2016: Wesfarmers to axe around 149 roles at Homebase, Target ups minimum wage to $10 an hour and Boots may face pharmacy watchdog.
Outgoing Target boss Stuart Machin has resigned ahead of the results into an investigation into the department store chain’s accounting practices.
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