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Target Corp (TGT.N)

TGT.N on New York Stock Exchange

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Latest Key Developments (Source: Significant Developments)

NY Attorney General announces $18.5 mln multi-state settlement with Target over 2013 Data Breach
Tuesday, 23 May 2017 11:55am EDT 

May 23 (Reuters) - New York Attorney General Eric T. Schneiderman: :Says 47 states and the District of Columbia have reached a $18.5 million settlement with Target Corp.Says settlement with Target Corp to resolve states' investigation into co's 2013 data breach.Says settlement requires Target to develop, implement, maintain a comprehensive information security program.Says settlement requires Target to employ executive/officer responsible for executing plan regarding information security program.Says Target is also required to hire an independent third-party to conduct a comprehensive security assessment.Says agreement with Target also requires co to segment its cardholder data from rest of its computer network.Agreement requires Target to take steps including implementing password rotation policies, two-factor authentication for some accounts.  Full Article

Target CEO on conf call- in early stages of implementing efforts to reestablish everyday price credibility
Wednesday, 17 May 2017 10:32am EDT 

May 17 (Reuters) - Target Corp :CEO on conf call- "our results are not where we want them to be".CEO - in the early stages of implementing merchandising and marketing efforts to improve value perception with guests and reestablish everyday price credibility on key items.CEO- opened 4 new small format locations in Q1.COO- pilot of Target Restock will begin rolling out to Twin Cities REDcard holders this quarter.COO- for Target Restock pilot, guests will have access to more than 8,000 items.COO- new small format stores generate more than double the per foot sales productivity of larger format stores.COO- we are seeing double-digit comp increases on average for the 10 mature small-format stores so far this year.COO- Victoria Beckham baskets were more than twice the size of Target's average transaction.Exec- macro factors slightly drove some of the acceleration in March and April.Exec- electronics benefited from healthy growth in apple watch and iphone; Q1 electronics delivered a mid-single-digit comp sales increase, the strongest in 3 yrs.Exec- Q1 low single-digit comp declines for food & beverage.Exec- launching new brand this month - Cloud Island, a new exclusive line of nursery decor, bedding, bath and layer products.Exec- "we're continuing to sharpen our (grocery) price and our value messaging, at the same time, and make sure that we move to a more regional based pricing, localized pricing".  Full Article

Target says Q1 same store sales fell 1.3 percent
Wednesday, 17 May 2017 06:30am EDT 

May 17 (Reuters) - Target Corp :Q1 same store sales fell 1.3 percent.Q1 GAAP earnings per share $1.22 from continuing operations.Target corp - qtrly sales $ 16,017 million versus $16,196 million.Qtrly comparable digital channel sales increased 22 percent.Target Corp says Q1 comparable sales decreased 1.3 percent.Target Corp says qtrly adjusted EPS was $1.21.Q1 earnings per share view $0.91, revenue view $15.62 billion -- Thomson Reuters I/B/E/S.Target Corp says for full-year 2017, company continues to expect a low single digit decline in comparable sales.Target - in Q2 2017, expects a low single digit decline in comparable sales, and both GAAP EPS from continuing operations and adjusted EPS of $0.95 to $1.15.Says "after starting quarter with very soft trends, we saw improvement later in quarter, particularly in March".Q2 earnings per share view $1.00 -- Thomson Reuters I/B/E/S.Target Corp says better-than-expected Q1 performance increases probability that co will finish year above midpoint of its prior gaap guidance.  Full Article

Target Corp says CEO Brian Cornell's 2016 total compensation was $11.3 mln versus $16.9 mln in 2015 - SEC Filing
Monday, 1 May 2017 08:03am EDT 

May 1 (Reuters) - Target Corp :Target corp - ceo brian c. Cornell's 2016 total compensation was $11.3 million versus $16.9 million in 2015 - sec filing.Says cfo cathy smith's fy 2016 total compensation was $4.4 million versus $7.5 million in fy 2015 - sec filing.Says coo john mulligan's fy 2016 total compensation was $7.0 million versus $10.4 million in fy 2015.  Full Article

U.S. CPSC says Target recalls about 560,000 water absorbing toys
Thursday, 13 Apr 2017 10:57am EDT 

U.S. Consumer Product Safety Commission : U.S. Consumer Product Safety Commission - Target recalls about 560,000 water absorbing toys due to serious ingestion hazard . U.S. CPSC - no incidents/injuries reported . U.S. Consumer Product Safety Commission says recall involves hatch & grow easter eggs, easter grow toys and hatch your own dino Further company coverage: [TGT.N] ((Bangalore.newsroom@thomsonreuters.com;)).  Full Article

Avery Dennison announces global radio frequency identification partnership agreement with Target Corp
Monday, 3 Apr 2017 07:00am EDT 

Avery Dennison Corp :Avery Dennison announces global radio frequency identification (RFID) partnership agreement with Target Corp.  Full Article

U.S. CPSC says Target recalls magnetic tic tac toe games due to choking, magnet ingestion hazards
Wednesday, 29 Mar 2017 11:00am EDT 

U.S. Consumer Product Safety Commission : Target recalls magnetic tic tac toe games due to choking and magnet ingestion hazards . Says Target has received one report of magnets falling off game piece. No injuries have been reported .Target recalls about 19,000 magnetic tic tac toe games.  Full Article

Target names Jeff Burt senior vice president, grocery, fresh food and beverage
Monday, 20 Mar 2017 02:02pm EDT 

Target Corp : Target names Jeff Burt senior vice president, grocery, fresh food and beverage . Says Burt joins Target from Kroger Co, where he was most recently president of Fred Meyer division .Burt will join company on April 10 and will relocate to Minneapolis.  Full Article

Target sets quarterly dividend of 60 cents/shr
Thursday, 9 Mar 2017 08:00am EST 

Target Corp :Sets quarterly dividend of $0.60 per share.  Full Article

Target expects capital expenditures in 2017 to increase to about $2.0 billion to $2.5 billion - SEC filing
Wednesday, 8 Mar 2017 04:26pm EST 

Target Corp : Says it expects capital expenditures in 2017 to increase to about $2.0 billion to $2.5 billion - SEC filing . Increase in 2017 capex as it accelerates rate of store remodels, flexible-format store openings, and continues to make supply chain investments .Says it also expects its rate of investment in store leases to continue to increase.  Full Article

More From Around the Web

Target in $18.5 mln multi-state settlement over data breach

Target Corp on Tuesday agreed to pay $18.5 million to settle claims by 47 states and the District of Columbia and resolve a multi-state investigation into the retailer's massive data breach in late 2013.