Target News Now

04/11/2011 - 15:45
March decline at Target no surprise

Target had forecast a mid-single decline in its March same-store sales, so the 5.5% decline it reported last week was no surprise. The late arrival of Easter is messing with retailers’ sales comparisons, so even though March was a down month for Target, it could have been worse as the comparison with the prior year was a lofty 10.3%. Therefore, last month’s 5.5% decline is a victory of sorts, and March results for retailers overall were better than expected. Now comes the tricky party as Target is on the hook to produce a mid-teems comps gain following last April’s 5.9% decrease.

04/11/2011 - 15:37
Loyalty on the line as Walmart ads tempt Target shoppers

A whole lot of uncertainty now hangs over Target’s April same-store sales expectations, as Walmart this week began a major advertising offensive to regain customers and restore sales at its U.S. division.

Target forecast April comps would be in the mid-teens due largely to the late arrival of Easter on April 24, coupled with ongoing food and consumable gains related to expansion of the PFresh format to more stores and increasing penetration rates for the REDcard rewards program. Suddenly though, Target’s April expectations appear to be in jeopardy as Walmart is poised to inundate the marketplace with messaging around low prices, breadth of assortment and a hassle-free price match policy with the bulk of spending related to Easter yet to occur.

04/11/2011 - 15:12
Living within their means

Consumers are using credit more responsibly, according to the latest delinquency data released by Target. The percentage of accounts 60 days and 90 days past due in Target’s credit portfolio experienced meaningful declines during March, and are now at their lowest level in more than two years.

That likely means a couple things.

04/08/2011 - 11:38
Judge allows gay rights group to protest outside Target

A judge ruled Thursday that a San Diego pro-gay marriage group can continue canvassing outside of Target stores in California, the Associated Press reported.

04/07/2011 - 15:18
Country star nabs Target deal

Target announced that it will offer an exclusive version of Alison Krauss & Union Station's "Paper Airplane."

04/07/2011 - 13:49
Target's value in the eye of the beholder

Target continues to pull ahead of Walmart in the value retail category, according to a recent Harris poll.

04/07/2011 - 11:59
March decline at Target no surprise

Same-store sales at Target declined 5.5% during March, in line with the company’s expectations for a down month due to the late arrival of Easter.

04/04/2011 - 16:09
Target is number two

The 2011 edition of Interbrand’s Best Retail Brands report again lists Target in the second position with a value of $23.3 billion in between number-one-ranked Walmart at $142 billion and third-ranked Home Depot at $20.3 billion.

04/04/2011 - 15:54
This could be ugly

Target is scheduled to release monthly sales for March this Thursday, and the company has already indicated its same-store sales figures won’t be pretty due to the late arrival of Easter. The holiday isn’t until April 24 this year, so the bulk of sales related to Easter will occur in April whereas last year Easter fell on April 4, so a greater percentage of seasonal sales fell in March. The situation wreaks havoc on monthly comparisons, which is why Target has forecast March comps will decline in the mid to upper single-digit range as the results are compared to a prior year period that included the benefit of Easter.

04/04/2011 - 15:44
Kellogg goes racing with Target

Target Chip Ganassi Racing (TCGR) has partnered with the Kellogg Company to become a primary sponsor on the number 10 Indy car driven by Dario Franchitti, winner of last week’s Honda Grand Prix of St. Petersburg and a three-time Izod IndyCar Series champ.

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