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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