Is Target Well-Positioned for the Future?
T = Trends for a Stock’s Movement
Target operates general stores in the United States as well as online, where it sells merchandise at discounted prices. It operates in three segments: U.S. Retail, U.S. Credit Card, and Canadian. Target’s online presence is designed to enable consumers to purchase products either online or by locating items in one of its stores with the aid of online research and location tools. Groceries, clothing, household items, and general merchandise can be found at Target, making it an efficient shopping experience for consumers throughout the nation.
Target removed Chair and Chief Executive Gregg Steinhafel on Monday in the wake of a devastating data breach that hurt the No. 3 U.S. retailer’s profits, shook customer confidence in the company and prompted congressional hearings. The departure of the 35-year company veteran also follows Target’s botched multi-billion dollar expansion into Canada. “After extensive discussions, the board and Gregg Steinhafel have decided that now is the right time for new leadership at Target,” the company’s board said in a statement. Steinhafel, 59, had been Target’s CEO since 2008. The Minneapolis-based company named Chief Financial Officer John Mulligan as interim chief executive, and Roxanne Austin, a member of Target’s board of directors, as interim non-executive chair of the board.