Target 2010 Annual Report Download - page 5

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TARGET 2010 ANNUAL REPORT 3
These are very exciting times for Target, and our outlook
has never been brighter, due, in large part, to the hard work,
ingenuity and unbounded energy of our talented team, which
comprises more than 350,000 diverse team members around
the world. By continuing to embrace our long-standing
company values, and consistently afrming our commitment
to innovation and operational excellence, we are condent
Target will drive continued prosperity and create meaningful
value for our shareholders for many years to come.
Gregg Steinhafel | Chairman, President and CEO, Target
Board of Directors Changes: Duringthepastyear,RichardKovacevich,former
chairman and CEO of Wells Fargo & Company, retired from our board of directors.
We thank Dick for his contributions during his 14 years of service.
Essentials in home, Circo in children’s apparel and
accessories, and up & up in both healthcare and household
essentials. And our Low Price Promise continued to
provide our guests with the assurance that we’ll match
competitors’ advertised prices on similar items.
• Wecontinuetoevolveourmarketingtoreectboththe
realities and aspirations of our guests’ lives. For instance,
our popular Life’s a Moving Target television spots further
strengthened our guests’ afnity for Target.
• We’recreatingindustry-leadingmobileapplicationsand
web strategies—including the upcoming launch of our
new Target.com site this summer—offering a Target
experience that ts guests’ lives and shopping styles,
whether in store, at home or on the go.
In addition to our initiatives to drive sales and gain share
in existing markets, we’re looking to grow our guest base
and enter new markets through a dynamic growth portfolio.
In January 2011 we announced an important step in our
company’s history as we outlined plans to extend our brand
beyond the United States for the rst time by opening 100 to
150 Target stores in Canada in 2013 and 2014. Domestically,
we continue to expand our presence by opening strategically
and nancially attractive stores using our traditional formats,
while also pursuing opportunities for a smaller-format store
in dense urban markets.
Beyond driving these critical business initiatives, our team
continues to engage vigorously in our broader community
commitments. In September, we announced plans to make
the largest single charitable donation in Target’s history:
$500 million by the end of 2015 to support education,
and in December, we announced Target’s rst-ever public
sustainability commitments. We also continue to focus on
well-being for our team members, their families and our
communities, and on delivering an employment experience
that team members love and candidates seek. In addition,
safety and preparedness and responsible sourcing remain
key facets of our commitment to high ethical standards and
strong communities.
As we strive to continuously reinvent the retail shopping
experience, we REMODELED nearly one out of every five Target
stores, adding more fresh food and merchandising innovations.