Target 2004 Annual Report Download - page 16

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• We continued to create excitement for our guests and
drive incremental sales by capturing meaningful syner-
gies in merchandising, product sourcing and marketing
for our stores and Target.com. For example, we intro-
duced the Red Hot Shop on Target.com which offers
new “hot” products to our on-line guests in as little as
3 days from concept to sale. Furthermore, we used this
merchandising speed and flexibility to identify important
emerging trends and then applied this knowledge to our
in-store assortments. We also began offering line exten-
sions and expanded assortments at Target.com based
on sales of selected merchandise within our stores. And
finally, we developed a direct mail program of customized
promotional offers called Target Mail.
• Target has also adopted Six Sigma, a disciplined data-
driven methodology for measuring performance and
improving processes. During 2004, we utilized this
approach to drive sales, generate cost savings, increase
productivity and improve guest satisfaction. Reflecting
our success to-date, we are committed to gaining further
efficiencies and improvements in our processes and
continue to integrate our Six Sigma approach across
the company.
Our commitment to the Power of One concept has been an
important contributor to Target’s profitable growth in recent
years and we view it as a key component of our overall strat-
egy and continuing success. We believe that our dedication
to working together, maintaining a common vision, and
harnessing the skills and resources within each area of the
company will help us deliver superior results for our guests,
our team, our shareholders and our communities.
Making a Difference
One important example of our commitment to a common
goal is our long-standing practice of giving back to the
communities we serve. Target gives more than two million
dollars each week in support of education, the arts, social
services and other vital community partnerships that
strengthen families and build healthy, solid communities.
In addition, we help our community partners by volunteer-
ing our time, experience and corporate knowledge. For
example, we’re lending our marketing savvy to promote
visibility and accessibility to the arts by sponsoring programs
and events at museums, such as the National Gallery of Art
in Washington D.C. and the Museum of Modern Art in New
York. We’re assisting the Red Cross in building year-round
safety and preparedness planning programs and providing
logistical support for disaster relief efforts. We’re supplying
marketing and construction resources to the Tiger Woods
Learning Center and offering our assets protection expertise
to community programs that reduce and prevent crime. We
also remain committed to the success of our signature
programs including:
• Take Charge of Education (TCOE), our school fundraising
initiative, through which we have contributed more than
$125 million to over 110,000 schools nationwide.
• Start Something, a partnership between Target and the
Tiger Woods Foundation, which is designed to promote
character development opportunities for kids and which
has enrolled nearly 2.5 million children to-date, and
• Target House, which is funded by Target and vendor and
celebrity contributions, and which provides a home-away-
from-home for families of children undergoing treatment
at St. Jude Children’s Research Hospital. This unique
facility offers the privacy of family apartments as well as
the camaraderie and comfort of interacting with other
Target House families in common areas.
The Strength of Many. The Power of One.
Target is also dedicated to providing an inclusive and
respectful workplace for each of our team members and a
welcoming shopping environment for each of our guests.
We work hard to attract, retain and reward talented, high-
performing team members by embracing their unique
capabilities and perspectives. We strive to delight all of our
guests with merchandise offerings and marketing campaigns
that resonate with their individual needs and aspirations.
And, we create opportunities for vendors through our
Minority and Women Business Development program which
was launched in 1998. Each year, Target contracts with
more than 3800 of these businesses to purchase a variety
of services that include general construction and technology
support. We believe these partnerships, combined with our
diverse team member and guest populations, strengthen
our company and position us for continued growth and
superior performance in the future.
Red Hot Shop One of the most popular destinations on Target.com,
featuring well-designed, hip new products for on-line guests seeking
the latest trends.