Another round of layoffs has struck Target Corp. in the Twin Cities. The company eliminated 235 positions Tuesday from its headquarters in Minneapolis and satellite offices in St. Louis Park and Brooklyn Park. It also cut 40 positions from its IT Center in India.
Target is on its way back. Shoppers are visiting the company’s stores more often and spending more on each trip, the Minneapolis-based discount-store chain said Wednesday. The company raised its annual profit outlook and said its second-quarter net income more than tripled. The upbeat report is evidence efforts to spruce up fashions and other merchandise are paying off for CEO Brian Cornell.
Target has reached a deal to pay up to $67 million to settle Visa claims related to a massive 2013 data breach that resulted in the theft of millions of debit and credit card numbers. Both Target Corp. and Visa Inc. confirmed the agreement Tuesday, but wouldn’t put a dollar amount on the deal.
More than a dozen Target stores will have different names by fall. The Minnesota company said Tuesday it is rebranding its 14 Target Express and City Targets across the country. Those are smaller, urban stores like the one in Minneapolis’ Dinkytown neighborhood.
Target is reporting a 52 percent increase in its first-quarter profit on solid sales of fashion and baby items, offering evidence that its efforts to spruce up its merchandise are paying off. The retailer, based in Minneapolis, also boosted the top end of its annual profit outlook.
Another 100 people lost their jobs at Target Corporate offices on Thursday, as a continuation of its corporate structuring. The jobs eliminated were administrative assistant positions.
We are learning more about one of the six Minnesota men accused of trying to join ISIS. The sister of 20-year-old Guled Omar spoke to WCCO Wednesday evening. “I believe that my brother is innocent and that he didn’t do anything wrong,” Shukri Omar said.
Target Corp. is reportedly raising its minimum wage for all workers to $9 an hour in an effort to compete with rivals such as Walmart.
Target Corp. announced Wednesday that the discount retailer is expanding its return policy from 90 days to one year for purchases of all Target-owned and exclusive brands.
A new round of layoffs will reportedly begin Tuesday at Target’s Minneapolis headquarters, one day after Gov. Mark Dayton met with the company’s CEO. Employees said that a couple dozen upper managers were let go on Monday.
Target’s massive workforce reduction is the latest milestone in a company that has long and colorful history in Minnesota. The Dayton Company, which had popular department stores throughout the Twin Cities, decided to launch something new in 1961 — a discount chain.
These are the four stories you need to be aware of for Tuesday, March 10. They include the University of Oklahoma fraternity that was busted after being caught saying a racist chant, and Uber’s promise to boost gender parity in their driving force.
Gov. Mark Dayton says he’s received assurances from Target Corp.’s chief executive that the company will keep a robust corporate presence in Minnesota.
Last week, the news broke that Target Corp. plans to lay off several thousand employees at its Minneapolis and Brooklyn Park corporate headquarters.
Gov. Mark Dayton is seeking a meeting “as soon as possible” with Target Corp.’s chief executive about the significant layoff affecting employees at the company’s Minnesota headquarters. Dayton told reporters Wednesday that he did not get advance warning as is customary with major jobs announcements of state-based corporations.
The Minneapolis-based Target Corp. is reportedly shedding 550 jobs in Minnesota following the discount retailer’s retreat from Canada.
Target Corp. has named a General Motors executive to be chief risk and compliance officer as the retailer continues to overhaul its security department in the wake of last year’s massive data breach.
Target Corp. is offering for the first time free holiday shipping on all items, including even $6 lipsticks, as the discounter throws itself in the ring to compete better with the likes of Amazon.
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Target Corp.’s final shareholder vote tally is showing some dissent against key board members. All 10 nominees were elected to the board Wednesday at the discounter’s annual shareholders’ meeting.
Target says its shareholders approved all 10 nominees to the company’s board of directors despite recommendations from a prominent proxy advisory firm to get rid of the majority in the wake of a data breach. Institutional Shareholder Services last month targeted those members who serve on the company’s audit and corporate responsibility committee.
Target Corp. has named Brad Maiorino as chief information security officer as the company overhauls its security department in the wake of a massive data breach. The nation’s third-largest retailer, based in Minneapolis, said Tuesday that Maiorino will join the company Monday and be responsible for the company’s information security and technology risk strategy.
Target Corp. is in the crosshairs of a fight over gun rights. Moms Demand Action for Gun Sense in America is trying to pressure the Minneapolis-based retailer into prohibiting customers from carrying guns in its stores. It’s an attempt to counter gun owners in some states who’ve been shopping and dining with rifles slung over their shoulders to asset their rights to openly carry firearms in public.
Target is having an identity crisis. The nation’s third largest retailer was once high-flying, but now it’s struggling to find its place in the minds of American shoppers. Once known for its cheap chic fashions, Target faces competition from trendy chains like H&M.
Target Corp. has acknowledged its security software picked up on suspicious activity after a massive cyberattack was launched, but it decided not to take immediate action. The acknowledgement comes after Bloomberg Newsweek reported Thursday that Target’s security team in Bangalore received security alerts on Nov. 30 that indicated malicious software had appeared in its network.