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Target - Statistics & Facts

Founded in Minneapolis, Minnesota, in 1902, Target Corporation is one of the largest discount retailers in the United States and the world based on sales. The company operates a chain of stores that offer a wide variety of general merchandise and food to their customers. The company operates primarily in the United States, as it has done since its inception. Target did have several stores in operation in the Canadian market, but these were all closed in 2015. At the end of the financial year 2021, Target operated more than 1,900 stores across the United States.

Recent growth

Target's status as an essential retailer during the pandemic certainly boosted its financial performance. In 2020, Target sales grew nearly 20 percent. This was considerably more growth than in previous years. In 2021, sales growth slowed slightly but still stood at an impressive 13.2 percent, and net sales reached a total of 106 billion U.S. dollars. In that year, comparable store sales increased 12.7 percent, while the company's gross margin remained relatively stable. While many other retailers were forced to close some of their stores permanently, in 2021, Target's net store count increased by 29.

Target's online presence

Although most of Target’s sales share comes from physical stores, the company’s online sales have been increasing over the years. In 2020, target.com was amongst the leading online stores in the United States in different segments including the consumer electronics segment, the food and beverages segment, the furniture and appliance segment, and the toys and baby segment.

Target’s private label brands and partnerships

Target has been steadily increasing its merchandise offering through private labels and brand partnerships. In 2021, approximately one-third of the company's sales were related to its owned or exclusive brands. Recently, Target launched a beauty range in partnership with Ulta Beauty at dedicated shops in select Target stores and on target.com.
This text provides general information. Statista assumes no liability for the information given being complete or correct. Due to varying update cycles, statistics can display more up-to-date data than referenced in the text.
Published by P. Smith, Jun 1, 2022

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