Sep 29 2022
Target Financial Report
The 2021 annual report of Target includes a letter to the shareholders written by Brian Cornell, Chairman and CEO of Target, in which he talks about the company’s achievements of the past year and more.
Cornell starts by telling why Target made the achievements which it did despite the Covid-19 crisis. The main reason is that they have been building their team from the inside out, investing in their team members and their families. Cornell explained:
“we’ll keep growing because we’ve invested in the team, strategy and capabilities to do what’s at the very heart of our company culture.”
He keeps going by telling the shareholders the unique year it has been:
“In 2021, we grew comparable sales by 12.7%, on top of record growth in 2020.”
This fact is supported by all of their financial highlights. Not only did their total revenue increase by 13%, their net earnings increased by an astonishing 59% in comparison to the prior year.
As a result, Target want to continue to expand. They plan to open around 30 Targets each year across the country in order to reach an even greater audience. They also plan on continuing the investments in their staff members such as the 300 million dollar investment from earlier in the year.
Target will continue to invest back into the shareholders through store improvements and company culture.
One response so far
OK overall on paraphrase and quotes, Marnix. I usually tell writers to limit their use of colons. The purpose of a colon is this: To call attention to what follows. You don’t always have to do that. Not even with quotes.