Letter to Shareholders
September 29, 2022
CEO of Target, Brian Cornell wrote in letter to share holders that “We have locations that grew from $40 million in sales to $50 million or $60 million in the last couple of years, not all of which have received our key long-term growth drivers. Only about half of our nearly 2,000 stores have been touched by our extensive remodel program”. So the coming years are looking hopeful with the optimization of 200 stores per year.
Target plans to open nearly 30 stores per year, Which will add to their growing workforce of over 400,000. Target, even in he aftermath of Covid-19, has had a successful model for maintaining employees and customers as since 2019 they have increased their worth by tens of billions of dollars.
He said that in 40 years of business he’s never seen a better blend of teams aspirations and the ability to bring them to life. He believes that the potential is unlimited and they have “the resources, the momentum, the size, scale and unified ambition to do so”. The Target CEO believes the future revenue to be bright