Analyst Report: Target Corp

Argus

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Mar 06, 2025

Summary

Target Corp. is the second-biggest U.S. discount retailer. It differentiates itself by selling stylish products at reasonable prices. The company has partnerships with an evolving group of designers. Based in Minneapolis, Target ended FY25 with 1,978 stores in the U.S., with a total of 248 million square feet. Target sold its in-store pharmacies to CVS in December 2015. For the fiscal year ended February 1, 2025, the company had total revenues of $106.6 billion, including $31 billion from Target's own brands. Sales on Target.com represented about 19.6% of the total in FY25, up from 18.3% a year earlier and 8.8% in pre-pandemic FY20. The company's fiscal year ends on the Saturday closest to January 31.

Approximately 30%

Chris Graja, CFA

Senior Analyst: Retail

Chris covers the Consumer sector for Argus. He was the #1 Stock Picker in the Household Durables sector, winning the 2019 StarMine U.S. Analyst award from Refinitiv. He was the #1 Stock Picker in Food and Staples Retailing, winning back-to-back U.S. Analyst Awards in 2015 and 2016. He received a prestigious Volunteer of the Year award from the New York Society of Security Analysts in 2000. Prior to Argus, Chris spent 16 years at Bloomberg Financial Markets. He was the Director of Training and a Senior Researcher for Bloomberg’s research division before joining the new Bloomberg magazine as Technical Studies Editor in 1993. He rose to Executive Markets Editor of the publishing group. Chris co-authored the book “Investing in Small-Cap Stocks,” which was published in three U.S. editions, an audio book, and two Chinese editions. Chris earned an MBA from Rutgers University. He is a CFA charterholder.