In this file:

 

·         Target creates new role of food and beverage president

CFO to retire, CMO adds chief digital officer title

 

·         Target reports holiday same-store sales growth of 5.7%, maintains 2018 outlook

 

 

Target creates new role of food and beverage president

CFO to retire, CMO adds chief digital officer title

 

Russell Redman, Supermarket News 

Jan 10, 2019

 

Target Corp. announced several executive changes — including a newly created food and beverage position and an upcoming succession at chief financial officer— in reporting increased 2018 holiday sales.

 

Target said Thursday that it has named Chief Human Resources Officer Stephanie Lundquist as president of food and beverage. In the role, she will oversee all food and beverage merchandising and operations, including strategy development and implementation.

 

Lundquist, who joined Target in 2005, has served as chief HR officer since 2016. The Minneapolis-based retailer noted that she brings enterprise leadership and operations experience to her new role, in which she will continue to report directly to Chairman and CEO Brian Cornell and remain part of the company's leadership team. Taking over from Lundquist as chief HR officer is Melissa Kremer, who has been promoted from senior vice president of HR.

 

At the CFO spot, incumbent Cathy Smith plans to retire. Plans call for Smith to continue in her role until the company names a successor, after which she will serve in an advisory role until May 2020 to help in the transition. Target said it has retained an executive search firm and is considering internal and external candidates. Smith joined Target as CFO in 2015 from pharmacy benefits manager Express Scripts, where she also was CFO.

 

"Cathy's deep expertise and leadership helped usher in strategic change for Target and positioned us for sustainable, long-term growth," Cornell said in a statement. "I appreciate the role Cathy will continue to play as we identify a successor and manage a seamless transition."

 

In other changes, Chief Marketing Officer Rick Gomez has added the title of Chief Digital Officer...

 

more

https://www.supermarketnews.com/executive-changes/target-creates-new-role-food-and-beverage-president

 

 

Target reports holiday same-store sales growth of 5.7%, maintains 2018 outlook

 

    Target says its 2018 holiday same-store sales rose 5.7 percent.

    That's compared with growth of 3.4 percent in 2017.

    The retailer is maintaining its same-store sales forecast for the fourth quarter and profit outlook for fiscal 2018.

 

Lauren Thomas & Courtney Reagan, CNBC

Jan 10, 2019

 

Target saw a surge of shoppers head to its stores and website during the 2018 holiday season, a sign that its investments in store remodels and delivery services are paying off, and an early sign that consumers across the U.S. spent more on gifts this year.

 

The retailer said Thursday that sales at its stores and website operating for at least 12 months climbed 5.7 percent this past holiday season. That compares with growth of 3.4 percent a year ago and surpasses some analysts' expectations.

 

But Target shares ended the day down about 3 percent on the heels of a slew of other retailers including Macy's and Kohl's reporting more disappointing holiday sales. Expectations for the retail industry have been high — with strong consumer confidence and low unemployment in the U.S. making a healthy backdrop to operate in. For some, though, sales growth is starting to decelerate.

 

Based on Thursday's results, Target said it is maintaining its profit outlook for the fourth quarter and fiscal 2018. It also announced the retirement of CFO Cathy Smith among some management changes.

 

Overall, CEO Brian Cornell said he's "very pleased"...

 

more, including links

https://www.cnbc.com/2019/01/09/target-reports-2018-holiday-sales.html