December sales were more impressive than expected for Target. Target expects to do better than the anticipated $1.11 per share. Total sales rose 5 percent to $9.74 billion from $9.28 billion last year. Year-to-date, sales in stores open at least one year fell 2.7 percent while total sales rose less than 1 percent to $59.15 billion. Target expects January sales in stores open at least one year to be flat or rise slightly from last January.
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Target Corporation operates general merchandise and food discount stores in the United States. The company offers an assortment of general merchandise, including consumables and commodities; electronics, entertainment, sporting goods, and toys; apparel and accessories; and home furnishings and decor, as well as a line of food items primarily under the Target and Super Target brands. It also sells its merchandise under private-label brands, including Archer Farms, Boots & Barkley, Choxie, Circo, Durabuilt, Embark, Garden Place, Gilligan & O'Malley, itso, Kaori, Market Pantry, Merona, Playwonder, Room Essentials, Sutton and Dodge, Target Brand, Target Home, Trutech, Vroom, Wine Cube, and Xhilaration. Target Corporation also offers merchandise through programs, such as ClearRx, GO International, and Home Design Event. In addition, it markets its merchandise under licensed brands comprising C9 by Champion, Chefmate, Cherokee, Converse One Star, Eddie Bauer, Fieldcrest, Genuine Kids by Osh Kosh, Kitchen Essentials by Calphalon, Liz Lange for Target, Michael Graves Design, Mossimo, Nick & Nora, Perfect Pieces by Victoria Hagan, Sean Conway, Simply Shabby Chic, Smith & Hawken, Sonia Kashuk, and Thomas O'Brien. Target Corporation also operates in-store amenities, such as Food Avenue, Target Clinic, Target Pharmacy, and Target Photo, as well as leased or licensed departments, including Optical, Pizza Hut, Portrait Studio, and Starbucks. The company markets its products through its network of distribution centers, as well as through its online shopping site, Target.com. As of January 31, 2009, it operated 1,682 stores and 34 distribution centers. Target Corporation also provides credit to qualified guests through its branded proprietary credit cards, including the Target Visa and the Target Card. The company was founded in 1902 and is headquartered in Minneapolis, Minnesota.
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