BRIEF-Target CEO Says Have Not Had a Conversation With Trump About Prices

Reuters
03-05
BRIEF-Target CEO Says Have Not Had a Conversation With Trump About Prices

March 4 (Reuters) - Target Corp TGT.N:

  • TARGET CEO SAYS EXPECT TO INVEST $4 BILLION TO $5 BILLION IN STORES AND TECHNOLOGY THIS YEAR - CONF CALL

  • TARGET CEO SAYS EXPECT TO DRIVE MORE THAN $15 BILLION REVENUE GROWTH OVER THE NEXT FIVE YEARS

  • TARGET CEO SAYS HAVE GROWN TARGET PLUS INTO A $1 BILLION PLUS DOLLAR MARKETPLACE AND IT IS GROWING IN THE DOUBLE DIGITS

  • TARGET CEO SAYS HAS POTENTIAL TO DOUBLE ITS RETAIL MEDIA BUSINESS, ROUNDEL, OVER THE NEXT TWO YEARS

  • TARGET EXECUTIVE SAYS HAVE MADE EFFORTS TO DIVERSIFY COUNTRIES OF ORIGIN; AROUND HALF OF WHAT WE SELL IS MADE IN THE UNITED STATES

  • TARGET EXECUTIVE SAYS HAVE REDUCED SOURCING FROM CHINA FROM 60% IN 2017 TO 30% TODAY AND PLAN TO REDUCE IT FURTHER TO 25% NEXT YEAR

  • TARGET EXECUTIVE SAYS MOVING MORE PRODUCTION TO WESTERN HEMISPHERE LIKE GUATEMALA AND HONDURAS

  • TARGET CFO SAYS CO IS MOVING AWAY FROM PROVIDING QUARTERLY GUIDANCE BECAUSE OF "INCREASED VOLATILITY" IN BUSINESS

  • TARGET CFO SAYS GIVEN NEAR-TERM UNCERTAINTY, WE'LL BE LOOKING TO MAINTAIN A LARGER THAN NORMAL CUSHION ON THE BALANCE SHEET

  • TARGET CEO SAYS HAVE NOT HAD A CONVERSATION WITH TRUMP ABOUT PRICES - MEDIA CALL

  • TARGET CEO SAYS "WE DON’T WANT TO OVERREACT NOW TO ONE HEADLINE OR ONE POLICY TOO MUCH"

  • TARGET CEO ON ENDING DEI INITIATIVES SAYS, 'WE HAVE BEEN COMMITTED TO INCLUSIVITY AND WILL BE COMMITTED TO THAT IN THE FUTURE'

Further company coverage: TGT.N

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