Target slashed its annual profit outlook as the retailer continues to reel from a massive data breach, a disappointing expansion in Canada and sluggish sales in the U.S. The nation’s third-largest retailer also said Wednesday that its second-quarter earnings dropped 61.7 percent.
Would you rather shop at the Mall Of America or an Outlet Mall?
Add Target to the list of big name companies now in support of gay marriage. Target Corporation has signed a court brief backing marriage equality in a pending court case.
Target is lowering its forecast for its second quarter because of costs related to a massive data breach and the repayment of debt.
Target has hired Pepsi executive Brian Cornell as its new chairman and CEO as it looks to recover from a huge data breach and troubles in Canada. Cornell replaces interim CEO John Mulligan, who is chief financial officer for the Minneapolis company. Mulligan stepped into the interim CEO post in May when Target Corp.’s Gregg Steinhafel resigned following a large data breach in the runup to Christmas.
Target unveiled its latest store concept in Minneapolis’ Dinkytown neighborhood Wednesday, and it’s the smallest one yet. TargetExpress, at the corner of SE 5th Street and SE 14th Avenue, is one-sixth the size of a traditional Target, about one-ninth the size of a SuperTarget. It’s focused on essentials that people nearby would want.
Target is introducing an app that lets users purchase items after scanning magazine ads with their smartphones. It’s the latest offering from retailers looking to boost sales with the use of improving image-recognition technology.
The Rochester Police Department is asking for the public’s help after as many as three people are suspected of using stolen credit cards at Target stores in Rochester, Winona and Minneapolis.
Target interim CEO John Mulligan is addressing the recent controversy surrounding its gun policy. Starting Wednesday, Mulligan says the corporation will respectfully request that guests not bring firearms into Target stores. This includes communities where it is permitted by law.
TCF Bank Stadium is set to get a bit more “Radioactive” this summer – musically speaking. On Monday morning, Major League Baseball announced that Grammy Award-winning artists Imagine Dragons will headline the 2014 Target All-Star Concert as part of the MLB All-Star Week on July 12 — with Minnesota’s ATMOSPHERE as the special guest.
Target Corporation has identified a glitch causing delays at some checkouts across the country, according to a representative. For now, Target employees are working with guests in stores where the issue hasn’t been resolved to accommodate their needs.
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.
Several protests are happening right now across the country outside Target stores. A group of moms is calling for the retail giant to ban open carry of guns in its nearly 1,800 stores nationwide.
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.
A national gun safety organization has set its sights on Minneapolis-based Target to stop gun-rights demonstrations in their stores. The group Moms Demand Action for Gun Sense launched a petition on Wednesday. They’re asking Target’s interim CEO John Mulligan to establish a policy to prohibit people from openly carrying guns in their stores.
A prominent proxy advisory firm is recommending that Target shareholders vote out seven of its 10 board members after a massive data breach. Institutional Shareholder Services on Wednesday targeted those members who serve on the company’s audit and corporate responsibility committee.
Is America’s love affair with gadgets fading? Best Buy and Sears on Thursday both blamed their weak quarterly results on the fact that shoppers aren’t shelling out for consumer electronics.
Target cut its annual profit outlook Wednesday and said its first-quarter earnings fell 16 percent as it took another hit from a massive customer data breach and a troubled expansion in Canada.
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 has fired the president of its troubled Canadian operations, Tony Fisher, and is replacing him with a 15-year U.S. company veteran. The executive shakeup in Canada comes two weeks after the abrupt resignation of Target’s CEO and Chairman Gregg Steinhafel.
Former Target CEO Gregg Steinhafel’s total pay fell 35 percent to $13 million in his last year at the helm as the company’s board revamped compensation plans amid complaints from shareholders that he was paid too much, according to a regulatory filing.
Earlier this week Target’s CEO Gregg Steinhafel stepped down after the massive data breach that occurred last fall. Target named an interim CEO, John Mulligan, a Wisconsin native and University of Minnesota alumnus. Mulligan graduated from Regis High School in Eau Claire in 1983.
Central Texas police have arrested a man accused of using a fraudulent credit card at a Target department store.