Target 2002 Annual Report Download - page 13

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11
For over a century, Target Corporation
has created value for our guests by
offering financial services and products
that include proprietary credit cards,
the Target Visa card and an array
of unique store-branded gift cards.
These cards strengthen the relation-
ships we enjoy with our retail guests,
provide them with attractive payment
alternatives and savings opportunities
and contribute to our overall revenue
and earnings growth.
During 2002, we continued to
invest in our proprietary credit card and
gift card programs at all three of our
divisions, reflecting our commitment
to make shopping at Target, Mervyn’s
and Marshall Field’s more convenient,
more exciting and more rewarding.
Additionally, Target Financial Services
enhanced the shopping experience
for millions of our guests — by providing
broader utility and financial flexibility,
improved loyalty programs, and the
promise of smart chip technology —
through the continued roll-out of our
Target Visa card. By year-end, we had
issued nearly nine million Target Visa
cards, had reached nearly four billion
dollars in Target Visa receivables and
had begun piloting the use of electronic
coupons to provide additional savings
to our Target Visa cardholders. As
we further leverage the capabilities
of the smart chip, our knowledge
of our guests’ shopping preferences
and our vendor partnerships, we
expect to deliver even greater value
to our guests in the future through
customized promotional offers.
Going forward, we remain
committed to offering financial services
and products that are valuable to our
guests and contribute meaningfully
to our growth in sales and profitability.
While we are excited about the
opportunities for electronic coupons
and other potential smart chip
applications, we continue to manage
our credit card operations with the
discipline and conservatism that have
been our hallmarks for decades. We
believe that our experience in financial
services and our proven track record
of performance position us well
to provide substantial benefits to
our guests and superior returns to
our shareholders in the years ahead.
The value of choices. The value of gift
cards that are easy to give and fun
to get. The value of a credit card that
earns rewards, saves you money and
raises funds for your child’s school
while you shop.