Target

Fortune Rankings

RANK65Fortune 100 Best Companies to Work For

RANK70America's Most Innovative Companies

Fortune 100 Best Companies to Work For 2024

Down 39 spots from last year’s list, retail behemoth Target weathered nine store closures in September due to “theft and organized retail crime,” which came a few months after it pulled Pride merch from its shelves following conservative customer backlash, which the company said impacted sales. At the same time, Target expanded its Target Forward strategy to offer benefits and career growth opportunities, physical and mental health support, and family support. It also expanded access to health benefits for hourly paid employees working 25 hours per week, with 20% more employees becoming eligible for the benefits. Target also told Fortune that CEO Brian Cornell frequently travels to stores and supply-chain facilities unannounced to familiarize himself with employees’ work. He meets with summer interns and hosts monthly meets with officers, which have hundreds of employees in attendance.

The company continues to invest in increasing employee wages. In 2017, the retailer announced a path to raise its starting wage to $15 an hour, and it reached the goal in 2020. In 2022, the company set starting wages with a range of $15 to $24 an hour for hourly employees, depending on the market.

Target’s Dream to Be program gives part- and full-time employees in the U.S. access to tuition-free bachelors’ and associate degrees and certificates from 250 programs across 40 schools. The program also provides up to $10,000 per year for master’s degrees available within its catalog. Among enrollees, turnover is 70% lower, and promotions are three times higher.

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Courtesy of Target Corporation

Fortune 100 Best Companies to Work For 2023
As one of the world’s leading retailers, Target is committed to changing the world, starting with its employees.

Target sets aggressive goals for investing in diverse employees and suppliers. Between 2019 and 2021, they met or exceeded their goals, including increasing promotions of people of color by 62% and spending $1.78 billion with diverse suppliers.

The Target Forward commitment prioritizes sustainable brands, eliminating waste, and boosting opportunity and equity.

The company recently launched a debt-free education assistance program, offering financial aid for full-time and part-time team members at stores, supply chain facilities, and headquarter locations who are seeking degrees.

Target covers travel costs for employees seeking abortions in another state.

“I think it is unique that Target invites people to bring their authentic self to the workplace. I assist with the hiring process, so I have often gotten the questions like, ‘I have piercings (or tattoos or hot-pink hair),’ and I am happy to say that you don’t have to cover that up,” noted one employee. “And in more recent years, I can proudly tell people who are trans or nonbinary that they can be known and accepted by their preferred name and pronouns.”

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Courtesy of Target

20 Best Large Workplaces in Retail 2023
Employees say:

"I really feel that the current leadership has made strong effort to bring out the best aspects of our culture and build on them to reinforce their importance. I have been here almost 16 years, and the friends I work with are the main reason I have stayed so long. How Target managed through the pandemic and shifted our working style to protect the team then and transition us to the hybrid model was a very clear demonstration of our culture."

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Courtesy of Target Corporation

Fortune 100 Best Companies to Work For 2022
Throughout the pandemic, Target rolled out new benefits and programs to help its frontline workers, including awarding $200 bonuses to hourly full- and part-time store employees in July 2021. The retailer is continuing its commitment to strong teams and a supportive workplace by bolstering its minimum wage and health care benefits. In February, Target expanded its starting wage range by $9 per hour in an initiative that will roll out regionally throughout 2022. Depending on the location and position, Target will now pay a starting rate between $15 and $24 per hour. And beginning in April, Target store employees who work an average minimum of 25 hours a week will have the option to enroll in the company’s health insurance plan—an expansion that makes 20% of the retailer’s workforce newly eligible for comprehensive health care benefits.

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Courtesy of Target

20 Best Large Workplaces in Retail 2022
Employees say:

“Having been a Target Team Member for a long time, there is no place else I would rather work at. This is my second family and we have been through everything together. The people are what keep me here! Just the different walks of life, personalities and cultures are what make it special.”

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Courtesy of Target

Figures are for the latest twelve months ended Jan. 31, 2024. Market value as of March 22, 2024. Source: S&P Global.

$ Millions% change
Revenues ($M):$109,1202.9%
Profits ($M):$2,780-60%
Assets ($M):$53,335-
Total Stockholder Equity ($M):$11,232-

Profit as % of Revenues:2.5%
Profits as % of Assets:5.2%
Profits as % of Stockholder Equity:24.8%

Earnings Per Share ($):5.98
EPS % Change (from 2021):-57.6%
EPS % Change (5 year annual rate):2.3%
EPS % Change (10 year annual rate):2.8%

Total Return to Investors (2022):-34.1%
Total Return to Investors (5 year, annualized):20.8%
Total Return to Investors (10 year, annualized):12.7%

Industry:Retail
Industry Vertical:Other
Founded:1946
City:Minneapolis
Sites:2,864
Worldwide Employees:386,946
Web Address:https://corporate.target.com/
Date info provided (companies may opt to keep some data confidential):March 05, 2021

Sector:Retailing
Culture rank:180
Process rank:42
Product rank:163