Yum! Brands Appoints Non-Executive Chairman

Louisville, Ky. — Brian C. Cornell, chairman and CEO of Target Corporation, has been appointed by the Yum! Brands board to serve as non-executive chairman of the board. Cornell has served on the Yum! Brands board since 2015. He will succeed Robert D. Walter, who is retiring from his role as Yum! Brands non-executive chairman.

Target to Remodel More Than 300 Stores in 2018

Minneapolis — As part of several initiatives in its accelerated multiyear strategy, Target Corporation will nearly triple the size of its remodel program in 2018, updating more than 300 stores around the country and making sizeable investments in key cities like Chicago, Los Angeles, Minneapolis-St. Paul and New York.

Target to Acquire Same-Day Delivery Platform Shipt, Inc.

Minneapolis — Target Corp. has agreed to acquire Shipt, Inc., a leading online same-day delivery platform, for $550 million in cash. Target will leverage its network of stores and Shipt’s proprietary technology platform and community of shoppers to quickly and efficiently bring same-day delivery to guests across the country. The acquisition significantly accelerates Target’s digital fulfillment efforts, bringing same-day delivery services to guests at approximately half of Target stores by early 2018. The service will be offered from the majority of Target stores, and in all major markets, before the 2018 holiday season.

Target Pledges Up to $1 Million for Hurricane Irma Relief Efforts

Minneapolis — Target Corporation is committing up to $1 million in cash and in-kind donations to support communities impacted by Hurricane Irma. The donations will benefit Target team members, as well as national, local and international relief organizations. This donation is in addition to the $3.5 million that the company committed last week to Hurricane Harvey relief.

Target Names Chief Strategy and Innovation Officer

Minneapolis — Target Corporation has appointed Minsok Pak as executive vice president, chief strategy and innovation officer. He will be responsible for Target’s enterprise strategy development and retail innovation with the goal of enhancing the guest experience and accelerating growth.

3 Key Trends Shaping the Future of Grocery Retailing

Rockville, Md. — What could be said 20 years ago is even truer today: The U.S. food retailing business has never been more competitive. According to The Future of Food Retailing: Value Grocery Shopping in the U.S., a brand new report by market research firm Packaged Facts, there are a number of trends that are putting pressure on food retailers of all stripes, from supermarkets whose bread and butter is groceries to supercenters and drugstores for which food is a smaller but still crucial part of the product mix.

Target Names EVP & Chief Merchandising Officer

Minneapolis — Target Corporation has hired Mark Tritton as executive vice president and chief merchandising officer. In addition, Jason Goldberger will assume the newly created role of chief digital officer and president of Target.com. Both Tritton and Goldberger will report to Target’s chairman and CEO, Brian Cornell, effective June 5, 2016.

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