What is Target?
Omnichannel mass retailer offering style-led merchandise, essentials, grocery, owned brands, delivery, pickup, and retail media.
- Category
- Mass retail
- Headquarters
- Minneapolis, MN
- Founded
- 1902
- Employees
- 400,000+
- Total funding
- Public company; no VC funding
- Status
- NYSE: TGT; ~$45B market cap
What is Target?
Target is a U.S. mass retailer that sells apparel, beauty, home, hardlines, food, household essentials, and owned brands through stores, digital channels, pickup, drive up, and same-day delivery. The company is headquartered in Minneapolis and serves guests through nearly 2,000 stores and Target.com.
Target's retail proposition combines everyday essentials with design-led discretionary categories and a store network built for fulfillment. In fiscal 2025, Target reported $102.7 billion of merchandise sales and described a turnaround plan for 2026 built around merchandising authority, guest experience, technology, and team/community investments.
The business is more omnichannel than a traditional big-box retailer. Stores act as shopping destinations, fulfillment nodes, pickup locations, returns points, and last-mile assets for same-day delivery through Target Circle 360 and Shipt-powered capabilities.
Target's owned brands, Target Circle loyalty ecosystem, Roundel retail media business, marketplace, and store remodels are important growth levers. The company has also emphasized technology acceleration under CEO Michael Fiddelke as it works to recover from several years of pressured comparable sales.
What does Target offer?
Target offers mass retail merchandise, owned brands, digital shopping, store pickup, same-day delivery, loyalty, credit/debit products, marketplace, and retail media.
- Apparel and accessories· Merchandise
- Beauty and personal care· Merchandise
- Home and seasonal· Merchandise
- Food and beverage· Grocery
- Household essentials· Essentials
- Owned brands· Private label
- Drive Up and Order Pickup· Fulfillment
- Target Circle 360· Membership/delivery
- Roundel· Retail media
How does Target make money?
Target makes money primarily from retail merchandise sales, with additional economics from memberships, delivery, marketplace, financial products, advertising, and services.
Target's core revenue comes from selling merchandise through stores and digital channels. Prices are SKU-specific and promotion-sensitive, so Target does not have a single pricing tier for its retail assortment. Its paid delivery membership, Target Circle 360, is publicly priced at $99 per year for standard members, with promotional and cardholder pricing offered at times.
The model depends on gross margin, markdown discipline, inventory turns, store labor productivity, fulfillment cost, vendor funding, owned-brand penetration, and digital mix. Stores are central to economics because they support shopping, pickup, drive-up, shipping, returns, and same-day delivery.
Growth drivers include stronger merchandising, store remodels and new stores, Roundel retail media, marketplace expansion, loyalty, digital fulfillment, and Target's owned-brand portfolio. In Q1 2026, Target reported net sales growth of 6.7% and digital comparable sales growth of 8.9%, helped by same-day delivery.
Who leads Target?
Target is led by CEO Michael Fiddelke, with Jim Lee as CFO and senior leaders overseeing merchandising, stores, technology, legal, human resources, supply chain, and external engagement.
- Michael FiddelkeChief Executive OfficerCEO since February 2026; longtime Target finance and operations leaderLeads Target's new growth chapter focused on merchandising authority, guest experience, technology, and team/community investments.
- Jim LeeChief Financial OfficerCFO since September 2024Former PepsiCo executive responsible for finance, treasury, risk, investor relations, and corporate development.
- Prat VemanaChief Information and Product OfficerTechnology and product leaderLeads Target technology, product, and Target in India capability-center work.
- Rick GomezChief Commercial OfficerSenior Target executiveOversees commercial strategy, merchandising-related leadership, and guest-facing growth priorities.
How do you contact Target's leadership?
Target publishes investor relations and corporate contact routes, but it does not publish a verified personal email format for executives. Use InvestorRelations@target.com or official contact pages and avoid guessed personal executive addresses.
InvestorRelations@target.com is public; personal email format not verifiedHow much funding has Target raised?
Target is a public company, not a VC-backed company: it trades on the NYSE as TGT, had a market cap around $45 billion in June 2026, and funds operations through cash flow, public debt/equity access, and retail working capital.
Target's capital history is rooted in its evolution from Dayton's department-store roots into a standalone public mass retailer. The modern financing view is public-market status, debt, dividends, buybacks, store capital expenditure, inventory funding, and vendor terms rather than private rounds.
Fiscal 2025 was a reset year, with total merchandise sales of $102.7 billion and continued investment in stores, supply chain, digital fulfillment, Roundel, and technology. In 2026, management emphasized a multi-year growth plan rather than a capital raise.
Seller signal: Target is a large enterprise buyer with budgets for retail technology, stores, fulfillment, media, loyalty, supply chain, workforce systems, and merchandising tools. But it is also margin-sensitive, so vendors must tie value to sales lift, operating efficiency, fulfillment cost, inventory health, or guest experience.
How did Target get here?
Target evolved from a Minneapolis department-store business into a national omnichannel mass retailer.
- 1902Dayton Company foundedThe company roots begin with George Dayton's retail business in Minneapolis.
- 1962First Target store opensThe first Target discount store opens in Roseville, Minnesota.
- 2000Renamed Target CorporationDayton Hudson changes its name to Target Corporation.
- 2017Shipt acquisitionTarget acquires Shipt to strengthen same-day delivery.
- 2024Jim Lee named CFOTarget adds a PepsiCo finance veteran as CFO.
- 2026Michael Fiddelke leads new chapterFiddelke becomes CEO and outlines priorities around merchandising, experience, technology, and team/community.
Who are Target's competitors?
Target competes with mass merchants, club retailers, grocery chains, e-commerce marketplaces, specialty retailers, and discount stores.
- WalmartLarger mass retailer with price leadership, grocery scale, marketplace, and fulfillment reach.
- AmazonE-commerce and marketplace leader competing for digital convenience, household replenishment, and Prime loyalty.
- CostcoMembership warehouse retailer with bulk value, high renewal rates, and Kirkland Signature strength.
- KrogerGrocery-led retailer competing in food, pharmacy, loyalty, and retail media.
- Dollar GeneralSmall-box value retailer competing on convenience, consumables, and rural/suburban coverage.
Target — frequently asked questions
