Target Stores

Paul & Joe for Target

French fashion label Paul & Joe is creating an exclusive clothing collection for Target. The French designer brand is the third to have launched a line for the US retail giant.

Paul & Joe's creator, Sophie Albou, is designing a line of women's wear for fall/winter 2006/7 for Target. Albou just launched a fine jewellery line to celebrate the opening of her boutique on the prestigious Avenue Montaigne in Paris.

“Sophie Albou immediately understood what we wanted,” said Trish Adams, senior vice president of Target, in a press release. “Her collection is filled with original, elegant creations with a very girly touch.”

The collection will be launched in 1,148 Target stores form 1 August and will be available for 90 days.

The line will consist of blouses, tops, sweaters, pants, skirts, jeans and coats, with prices ranging between $7.99 and $149.

www.paulandjoe.com
18 April 2006

Target growth surge

US retail group Target Corporation has recorded an increase in revenues for 2005 of 12.3 percent to $52.620 billion (£30.340 billion), thanks to a 5.6 percent rise in same-store sales and income from new store expansion and credit card operations. Earnings from continued operations amounted to $939 million in the fourth quarter, while operating profit for the full year rose to $2.408 billion from $1.885 billion the year before.

“Target produced outstanding results in 2005, surpassing $50 billion in sales and generating strong growth in earnings,” said chairman and chief executive Bob Ulrich. Revenues for the fourth quarter rose 11.5 percent to $16.947 billion, with same-store sales rising 4.2 percent. Earnings before interest and tax rose 14 percent to $1.606 billion. At the end of the quarter, Target operated 1,397 stores throughout the US .

www.target.com
17 February 2006

Target cautious while Q3 growth soars

America's second-largest discount retailer Target last week reported a rise in margins and a strong performance thanks to its credit card business. Third-quarter earnings from operations rose by almost 35 percent and a hike in comparable store sales of 5.9 percent.

However, the company refused to adjust the operating margins upwards, preferring to remain cautious for the holiday shopping season. Retailers expect a busy holiday shopping period, reports the FT. This period accounts for most of their annual revenues, but last year, heavy competition with rivals like Wal-Mart cut into Target's profits.

Meanwhile earnings from continuing operations for the quarter hit $435 million (£249 million), up from $324 million last year. Net income dropped 18 percent to $435 million from $531 million last year when Target sold its Mervyn's chain. However, total revenues for the quarter rose 11.9 percent to $12.2 billion, compared with $10.9 billion last year.

www.target.com
14 November 2005

US Retail Giant To Expand To UK

Target, a US discount retailer, is said to be planning an acquisition to enter the UK market, with Matalan as its target.

Target would be an interesting addition to the British discount retailing sector, not least because its biggest selling own-label brand is Cherokee, which is sold in the UK under an exclusive licence with tesco.

A value sector source told Draper's that 181-store Matalan would be the most suitable choice for a bid because of the similarities between the two retailers. Both sell own-brand clothing, as well as similar discounted mass-market brands including Wrangler, Levi's and Fruit of the Loom. Both also sell in predominantly out-of-town locations.

Target has around 1,250 stores in the US. It has sales of around USD 43bn and profits of USD 2bn.

www.target.com
18 August 2004

Target pulls back offensive prints

Target Stores of Minneapolis issued a call to all 1,100 stores nationwide to stop selling clothing printed with "eight eight" and "88" -- code among neo-Nazis for "Heil Hitler" because H is the eighth letter of the alphabet after Joseph Rodriguez, a video-producer for the University of California, sounded the alarm bell. Rodriquez saya he learned of the meaning of the white power code from a documentary on racist rock music. He was stunned in June when he found the type in the fabric pattern of a pair of red shorts he pulled from a rack at a Target store at Elk Grove. "I know what it means," said Rodriguez, who bought the shorts and took them to the store manager to complain. "That frightens me that it's out there."

Target officials said they first learned what the symbols meant Monday night when information about Rodriguez's complaints was put on a Web site of the Southern Poverty Law Center, a nationwide tracker of racist organizations. "Nobody knew what it meant," said Carolyn Brookter, director of corporate communications for Target. "We certainly apologize that this was out there. We would not have any white supremacist symbols out selling as merchandise."But Rodriguez said the Elk Grove store manager told him the store sells what it is shipped. Rodriguez said he then complained to Target's corporate office and was "blown off."

Brookter said that in addition to removing the clothing from summer clearance racks, Target will conduct a campaign to teach store buyers and advertisers about such symbols. She also added Target is sorry Rodriguez's complaints were not brought to her attention earlier. Customer relation's personnel will be alerted about the need to act quickly on such issues, she said.
The baseball caps and shorts were manufactured by UTILITY, one of Target's private labels. Brookter said the store's buyer will look into how the
offending type came to be used.