Brian Cornell

Target Names Chief Digital and Product Officer

by Katie Lee October 6, 2022

Minneapolis — Target Corporation has hired Prat Vemana as executive vice president, chief digital and product officer. Vemana will join Target on Oct. 31 as a member of Target’s leadership team, reporting to Cara Sylvester, chief guest experience officer. In this role, he will oversee Target’s digital business, including site merchandising, user experience, digital operations and product, and Target+, the retailer’s growing online third-party marketplace. Additionally, Vemana will provide key support for Target’s industry-leading product teams across the company by bringing a holistic view to the retailer’s overall product strategy. …

October 6, 2022

News people retailers

Target Announces Leadership Updates

by Katie Lee September 7, 2022

Minneapolis — Target Corporation has announced that Brian Cornell has committed to remain as CEO and lead the company for approximately 3 more years. Additionally, Arthur Valdez, executive vice president and chief supply chain and logistics officer, will retire from Target. He will be succeeded by Gretchen McCarthy, senior vice president, global inventory management, effective immediately. “In discussions about the company’s longer term plans, it was important to us as a board to assure our stakeholders that Brian intends to stay in his role beyond the traditional retirement age of …

September 7, 2022

News people retailers

Target Updates Leadership Team

by Katie Lee May 5, 2022

Minneapolis — Target Corporation has made a number of updates to its leadership team, including the creation of a brand new role for Target: executive vice president and chief guest experience officer. “Guided by our purpose of helping all families discover the joy of everyday life and fueled by the most talented, committed team in retail, Target has experienced tremendous growth over the past 2 years,” says Brian Cornell, chairman and CEO, Target. “The updates we’re making to our leadership team reflect the size and scale of our more than …

May 5, 2022

green news News retailers

Target Outlines Bold New Sustainability Strategy

by Katie Lee June 22, 2021

Minneapolis — Target Corporation has unveiled Target Forward, the company’s new sustainability strategy that builds on the retailer’s legacy of corporate responsibility and sustainable practices. “As a company and a member of the global community, it’s imperative for both the health of our business and of our planet that we embrace new ways to move forward,” says Brian Cornell, chairman and chief executive officer of Target. “We know sustainability is tied to business resiliency and growth, and that our size and scale can drive change that is good for all. …

June 22, 2021

News retailers

Target Grows Q1 Comp Sales Nearly 23%

by Katie Lee May 20, 2021

Minneapolis — Target Corporation has released its first quarter 2021 financial results, which reflect robust growth in both sales and profitability. Highlights include: Q1 comp sales grew 22.9%, on top of 10.8% growth last year. Store comp sales increased 18%, on top of 0.9% growth last year. Digital comp sales grew 50%, on top of 141% growth a year ago. Same-day services (Order Pickup, Drive Up and Shipt) grew more than 90%, led by growth in Drive Up of 123%. More than 95% of Target’s Q1 sales were fulfilled by …

May 20, 2021

News retailers

Target and Ulta Beauty Form Strategic Partnership

by Katie Lee November 12, 2020

Minneapolis and Bolingbrook, Ill. — Target Corporation and Ulta Beauty have formed a strategic, long term partnership to transform the beauty landscape with Ulta Beauty at Target. Ulta Beauty’s shop-in-shop concept will debut at more than 100 Target stores nationwide and online at www.Target.com beginning in 2021. The partnership brings Ulta Beauty’s best-in-class beauty authority to millions of guests who love the ease and convenience of Target’s one-stop shopping experience. It also provides beauty brands an opportunity to expand and grow in a new, industry-leading omnichannel retail experience. “The durable …

November 12, 2020

News retailers

Target Reports Highest Quarterly Sales Growth in Its History

by Katie Lee August 25, 2020

Minneapolis — Target reported a 24.3% increase in total digital and in-store sales for the second quarter compared with the same period a year ago, the highest quarterly growth in the Minneapolis-based discount retailer’s history. Same-store sales grew by 10.9% during the quarter, while digital sales experienced a whopping 195% growth year over year. CNBC reports that during a call with reporters, Target CEO Brian Cornell stated that the volume of sales fulfilled by the company’s curbside pickup program grew by more than 70%, and that the company’s digital customer …

August 25, 2020

News retailers

Target, Other Retailers Temporarily Close Stores Across Nation in Response to Violent Protests

by Katie Lee June 1, 2020

Minneapolis — Minnesota-based discount retailer Target has temporarily closed six stores in four states in response to protests that turned violent over the weekend. The looting and destruction of commercial property took place in the days following the death of George Floyd, an unarmed black man who died May 25 following an encounter with Minneapolis police during which an officer knelt on his neck for several minutes. On Sunday, several other retailers, including CVS, Apple and Walmart also announced temporary closures or adjusted hours in major cities where rioting had …

June 1, 2020

construction and design News retailers

Target Adjusts 2020 Remodel & New Store Opening Schedule

by Katie Lee March 25, 2020

Minneapolis — Target Corporation has made business adjustments to its remodel and new store opening schedule in response to the impact from novel coronavirus (COVID-19). As the COVID-19 crisis has evolved, the company has been experiencing unusually strong traffic and sales, particularly in its stores and same-day services, as guests rely on Target for essential items like food, medicine, cleaning products and pantry stock-up items. As a result, the company has adjusted the expected timing of some of its strategic initiatives, including new store builds and remodels. Updated plans for …

March 25, 2020

News people retailers

Target Promotes SVP of Operations to EVP & CFO

by Katie Lee October 10, 2019

Minneapolis — Target Corporation has named Michael Fiddelke as executive vice president and chief financial officer, effective November 1, 2019. He will be responsible for financial planning and analysis, financial operations, internal audit, accounting, investor relations, treasury, tax and risk. He will also oversee Target’s Financial and Retail Services, which includes guest relations and management of its financial products, including Target RedCard. In more than 15 years at Target, Fiddelke has served in a variety of roles across finance, merchandising, human resources and operations. Most recently he served as senior …

October 10, 2019

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