Target Corporation
Industry: Retail (Department & Discount)

Target Corporation operates large-store general merchandise formats, including discount stores, moderate-priced promotional and traditional department stores, as well as a direct mail and on-line business called target.direct. At month-end, the company operated 1,553 stores in 47 states. This included 1,225 Target stores, 266 Mervyn's stores and 62 Marshall Field's stores.

Business Summary
Target Corporation (Target) operates large-format general merchandise discount stores in the United States and a much smaller online business. In addition, the credit card operations represent an integral component of the Company's retail business. Target offers both everyday essentials and fashionable, differentiated merchandise. During the fiscal year ended January 29, 2005 (fiscal 2004), the Company completed the disposition of two segments of its business, Marshall Field's and Mervyn's. Target offers credit to qualified guests through its branded credit cards, which include the Target Visa and Target Card.

Financial Summary
Target Corporation is a general merchandise retailer. As of 11/04, the Company operated 1,313 Target-brand store locations throughout 47 states, as well as an online business, Target.com. For the 26 weeks ended 7/30/05, revenues rose 13% to $23.47B. Net income from cont. opts. rose 38% to $1.03B. Revenues reflect higher same-store sales and improved product mix. Earnings also benefited from improved gross and operating margins.