Target Corp. reported a 5.2 percent drop in earnings for the fourth quarter, as big discounts to get tight-fisted shoppers to buy during the holiday season eroded profits.
Target is promoting John Mulligan to chief financial officer. The move is effective April 1.
Target Corp. says it is temporarily suspending its efforts to sell the portfolio that handles the balances credit cardholders owe the company, but plans to resume the talks later this year.
Discount chain Target Corp. says it will buy back up to another $5 billion in shares under a new stock repurchase program.
Target stores are recalling an LED flashlight set after two customers reported receiving minor burns using them.
Target lowered its earnings expectations Thursday following a disappointing December, with consumers waiting until the last minute to shop as well as weak sales of electronics.
Following McDonald’s lead, Target Corp. has now refused to use eggs from Sparboe Farms, where undercover cameras recorded unsanitary conditions and employees harming the chickens.
Target Corp. said Thursday that sales of groceries, beauty products and clothing helped fuel a 5.3 percent September rise in revenue at stores open at least a year.
Target Corp.’s head of marketing is leaving the company, the retailer announced Monday.
Target Corp. is benefiting from the economic downturn, while other retailers are getting battered by it.
A stronger credit-card business helped Target Corp.’s net income rise 2.7 percent in the first quarter, even as customers were cautious about buying because of higher gas and food prices.
A judge ruled Thursday that a San Diego pro-gay marriage group can continue canvassing outside of Target stores in California, but the group’s volunteers must stay 30 feet away from store entrances and canvass at just one entrance at a time.
Prosecutors say a California judge has ordered Target Corp. to pay $22.5 million for illegally disposing hazardous waste at stores throughout the state.
Target Corp. has revised its policy concerning political giving a few months after a controversy over its $150,000 donation to a business group that was backing a conservative Republican candidate for Minnesota governor.
Minneapolis-based Target Corp. plans to remodel about 400 of its general merchandise stores across the nation in 2011, building upon the discounter’s latest strategy to bulk up its grocery offerings.