Target 2014 Annual Report Download - page 8

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A significant portion of our sales is from national brand merchandise. Approximately one-third of 2014 sales related to
our owned and exclusive brands, including but not limited to the following:
Owned Brands
Archer Farms® Market Pantry® Threshold™
Simply Balanced™ Merona® up & up®
Boots & Barkley® Room Essentials® Wine Cube®
Circo® Smith & Hawken® Xhilaration®
Embark® Spritz™
Gilligan & O'Malley® Sutton & Dodge®
Exclusive Brands
Assets® by Sarah Blakely dENiZEN™ from Levi's® Nate Berkus for Target®
Ava & Viv® Fieldcrest® Nick & Nora®
C9 by Champion® Genuine Kids from OshKosh® Papyrus®
Carlton® Just One You made by Carter's Shaun White
Chefmate® Kid Made Modern® Simply Shabby Chic®
Cherokee® Liz Lange® for Target Sonia Kashuk®
Converse® One Star® Mossimo Supply Company®
We also sell merchandise through periodic exclusive design and creative partnerships and generate revenue from in-
store amenities such as Target Café, Target Clinic, Target Pharmacy and Target Photo, and leased or licensed
departments such as Target Optical, Pizza Hut, Portrait Studio and Starbucks.
Distribution
The vast majority of merchandise is distributed to our stores through our network of 38 distribution centers. Common
carriers ship general merchandise to and from our distribution centers. Vendors or third party distributors ship certain
food items and other merchandise directly to our stores.
Employees
At January 31, 2015, we employed approximately 347,000 full-time, part-time and seasonal employees, referred to
as "team members." During the sales period from Thanksgiving to the end of December, our employment levels peaked
at approximately 447,000 team members. We offer a broad range of company-paid benefits to our team members.
Eligibility for, and the level of, these benefits varies depending on team members' full-time or part-time status,
compensation level, date of hire and/or length of service. These company-paid benefits include a pension plan, 401
(k) plan, medical and dental plans, a retiree medical plan, disability insurance, paid vacation, tuition reimbursement,
various team member assistance programs, life insurance and merchandise discounts. We believe our team member
relations are good.
Working Capital
Our working capital needs are greater in the months leading up to our peak sales period from Thanksgiving to the end
of December, which we typically finance with cash flow provided by operations and short-term borrowings. Additional
details are provided in the Liquidity and Capital Resources section in MD&A.
Effective inventory management is key to our ongoing success, and we use various techniques including demand
forecasting and planning and various forms of replenishment management. We achieve effective inventory
management by being in-stock in core product offerings, maintaining positive vendor relationships, and carefully
planning inventory levels for seasonal and apparel items to minimize markdowns.
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