Summary
Target Corp. is the second-biggest U.S. discount retailer. It differentiates itself by selling stylish products at reasonable prices. The company has partnerships with an evolving group of designers. Based in Minneapolis, Target ended FY23 with 1,948 stores in the U.S., with a total of 245 million square feet. In January 2015, the company announced its exit from the Canadian market, along with plans to close approximately 130 stores in Canada. Target sold its in-store pharmacies to CVS in December 2015. For the fiscal year ended January 28, 2023, the company had total revenues of $107.6 billion, including approximately $30 billion from Target’s own brands. Sales on Target.com represented about 19% of the total in FY23, up from 8.8% in pre-pandemic FY20, 7% in FY19, 5.5% in FY18, and 4.4% in FY17. The company’s fiscal year ends on the Saturday closest to January 31.
Approximately 28% of merchandise sales came from beauty and household essentials, 16% from hardlines, 16% from apparel and accessories, 18% from home products, and 21% from food. Target was recently moved to the Consumer Staples sector from Consumer Discretionary.
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Source: https://finance.yahoo.com/research/reports/ARGUS_3440_AnalystReport_1692293724000?yptr=yahoo&ncid=yahooproperties_plusresear_nm5q6ze1cei