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38 - Target

BOSTON - JULY 19: Store team leader Mike Maher, right, meets with staff to discuss preparations for an event at the new Target store at 860 Commonwealth Ave., in Boston on July 19, 2016. The new "flexible-format" Target store is targeted at nearby Boston University students. The grand opening will be on July 24. (Photo by Pat Greenhouse/The Boston Globe via Getty Images) Pat Greenhouse — Boston Globe via Getty Images

Target has grown its digital sales almost 30% annually over the past two years, a rate it claims surpasses the rest of the retail industry. It turns out that hasn’t been enough to keep up with the ways that consumers have shifted their shopping behavior to the web. Revenue declined nearly 6% last year, in large part because of the sale of its pharmacy business to CVS. The company has said it will invest $7 billion over the next three years to beef up its digital operations, freshen up existing stores, and open more small outlets that give the company a presence in urban areas. CEO Brian Cornell also worked to revamp the company’s food business as well as launch new brands like Cat & Jack and Pillowfort labels for kids that have so far been big hits.

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Key Metrics & Financials (Last Fiscal Year)

Revenues ($M)$69495
Revenue Percent Change-5.8%
Profits ($M)$2,737.0
Profits Percent Change-18.6%
Assets ($M)$37431
Market Value — as of March 31, 2017 ($M)$30,502
Employees323,000
Previous Rank38

Company Facts

Employees323,000
SectorRetailing
IndustryGeneral Merchandisers
HQ LocationMinneapolis, MN
CEOBrian C. Cornell
CEO Title-
Websitewww.target.com
Years on Fortune 500 List23

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