Tag Archives: Gregg Steinhafel

Jacob, Target CIO, Resigns

Beth Jacob

MINNEAPOLIS-In the wake of the company’s efforts to resolve the breach into millions of customers’ credit-card information, Beth Jacob, Target’s executive vice president of technology services and chief information officer, has resigned, effective yesterday. A statement sent by the retailer to HFN, from Gregg Steinhafel, chairman, president and CEO, said Target will begin an externalMore »

Target Q3 Net Drops 46.5 Percent


MINNEAPOLIS-Increased costs and reduced margins slammed Target’s bottom line in its third quarter. Net income was down 46.5 percent, to $341 million, in the quarter which ended on Nov. 2. Selling, general and administrative expenses were up 4 percent in dollars, although as a percentage of sales they were essentially flat with last year’s thirdMore »

Target Net Drops 13.2 Percent in Q2


MINNEAPOLIS-Sales that were less than expected and reduced margins sliced Target’s second-quarter net income down 13.2 percent, to $611 million. Net sales in the quarter, which ended on Aug. 3, rose 4 percent to $17.1 billion, including a 1.2 percent gain in U.S. same-store sales. Gross margin registered 31.4 percent, down 129 basis points fromMore »