Target News Now

02/14/2011 - 17:03
A “Magically Delicious” cereal promotion

Five limited-edition General Mills brand products hit the cereal aisle at Target stores this week as part of limited duration promotion that features package designs from the 50’s, 60’s and 80’s.

02/14/2011 - 16:52
Online room for improvement

Wells Fargo retail analyst Matt Nemer put several leading retailers to the test this week with an innovative approach to research. According to Barron’s, he went on a $5,000 shopping spree on the websites of some of the largest Internet-only and traditional retailers.

02/07/2011 - 16:51
One out of three ain’t bad

No offense to the grammatically challenged recording artist known as Meatloaf, but the notion that “two out of three ain’t bad” doesn’t apply when the issue is monthly same-store sales at Target.

January results announced last week showed that Target produced a 1.7% comp increase compared with guidance that called for an increase in the low- to mid-single digits. Although 1.7% is technically a low single digit, the gain was declared to be below expectations by company chairman, president and CEO Gregg Steinhafel. In December, the company’s 0.9% comp increase also was below Steinhafel’s expectations, as guidance for the month forecast an increase in the low- to mid-single digits.

02/07/2011 - 16:20
Competition is a good thing for iPhone users

Now that Verizon has the iPhone, AT&T is offering some sweet offers to hang onto its existing subscribers, and it has enlisted the aid of Target to accomplish that objective. Target began selling the iPhone last November three months after announcing a partnership with RadioShack to offer mobile centers in its stores, and on Friday series of trade-in opportunities were offered at the 846 stores where TargetMobile is available.

Existing iPhone users willing to sign a new two-year contract can trade in their phone and receive a credit ranging from $100 to $200 depending on the model of their current phone and the phone they intend to purchase.

02/07/2011 - 15:51
Where to next for credit delinquency rates?

After a year of steadily declining delinquency rates in Target’s credit portfolio, January proved to be a month of stabilization as the percentage of those 60 and 90 days past due on their accounts held steady when compared with the prior month. Accounts 60 days past due represented 4.2% of credit card receivables in January and accounts 90 days past due represented 3.1%. Both figures were identical to levels recorded in December, but well below peak levels seen in February 2010 when the 60 and 90 day past due rates hit their fiscal year peaks of 6.1% and 4.5%, respectively.

02/07/2011 - 15:47
Diversity event draws some big names

Target director of owned brands Annie Zipfel is among those slated to participate in the fourth annual Network of Executive Women Multicultural Work force conference to be held March 1 to 3. With a theme of “Building Competencies, Growing Business,” the event will focus on the advantages of developing culturally competent organizations. Zipfel is listed on the event’s agenda as a participant on a panel discussing a report to be released by Deloitte on the topic of “The changing Consumer and the Work force Imperative.” Alison Kenney Paul, vice chair and leader of Deloitte’s U.S. retail practice, will present the report. Others on the panel with Zipfel include Nicola Johnson, a principal with Deloitte’s retail practice and Dian Emerson, VP diversity and inclusion at Safeway.

02/02/2011 - 16:58
P&G helps Target customers keep their fitness resolutions

Procter & Gamble and Target have teamed up to offer customers savings on a number of products designed to help them keep those fitness resolutions.

02/01/2011 - 11:37
What will you do with your 5%?

Another week and another full page ad in Target’s circular touting the REDcard Rewards program launched last fall. Nothing unusual about that right? The 5% savings program has been promoted heavily since is arrival last October to the point where it is impossible to look anywhere in a store and not seen 5% Rewards signs.

What’s different about the most recent ad is it enters some new territory in that Target is touting not only that its prices are low, but that they are in fact the lowest because shoppers are able to take advantage of a low-price promise and then save an additional 5%. The concept and messaging is similar to the situation in the home channel where Home Depot and Lowe’s have nearly identical low-price guarantees. However, they go a step further and promise to beat the competitor’s price by 10%, offering shoppers considerable savings on large-ticket purchases.

02/01/2011 - 11:30
A new arrival for baby category

The Chicco brand of baby gear hit Target stores this week with three key items featured in the retailer’s weekly ad. Those same items were then called out in stores with red placards the size of album covers, in case anyone remembers what those were, that featured the advertised sales price.

01/31/2011 - 17:09
Target makes the grade on customer service
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