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Target (TGT) Expands Holiday Deals, Circle Program Bodes Well
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Target Corporation’s (TGT - Free Report) has been making constant efforts to boost guests’ shopping experiences. In recent developments, the company’s easy-to-use loyalty program Target Circle has completed a year and brings a lot more ways to increase savings for its approximately 80 million customers this holiday season. The big-box retailer also plans to offer about 1 million more deals this holiday season than the prior year.
Through Target's loyalty programs, members have saved around $2 billion via the Target Circle offers and earned roughly $200 million on 1% rewards on purchases for their future visit to the stores. As part of this program, the company has directed over $7 million to nearly 2,500 local and national non-profit firms.
Notably, Target Circle members can freely access all the holiday offers at one place. These offers can be availed whether guests shop from store or opt for its contactless same-day fulfillment services. Its same-day services consist of Drive Up, Order Pickup and Same-Day Delivery with Shipt. The Drive Up facility is available across the company’s 1,800 stores nationwide while Order Pickup can be availed at all its outlets. Customers have been responding positively to such shopping tools.
Meanwhile, the company has been deploying resources to enhance omni-channel capabilities, introduce new brands, refurbish stores and expand same-day delivery options to provide a seamless shopping experience. It has been making multiple changes to its business model to adapt and stay relevant in the ever-evolving retail landscape. Recently, Target entered into a strategic long-term partnership with Ulta Beauty (ULTA - Free Report) . According to the agreement, Ulta Beauty will open mini cosmetics shops inside Target. This shop-in-shop concept will be put in place across select Target stores and online. As a result of the tie-up, Ulta Beauty’s emerging and prestige beauty brands will be available at more than 100 Target stores in 2021.
The company is awarding a bonus of $200 to more than 350,000 team members ahead of the holidays in appreciation of the unprecedented efforts of frontline workers amid the pandemic. The $70-million bonus will be provided to eligible hourly team members in stores and distribution centers. This also includes seasonal hires and hourly team members who provide support to Target’s guest and team member contact centers.
This Minneapolis, MN-based company’s shares have surged 46.8% in a year while outperforming the industry’s 18.1% rally. Target currently displays a Zacks Rank #2 (Buy).
Boot Barn (BOOT - Free Report) , also a Zacks Rank #1 stock with a long-term earnings-growth rate of 20%.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by referendums and legislation, this industry is expected to blast from an already robust $17.7 billion in 2019 to a staggering $73.6 billion by 2027. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
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Target (TGT) Expands Holiday Deals, Circle Program Bodes Well
Target Corporation’s (TGT - Free Report) has been making constant efforts to boost guests’ shopping experiences. In recent developments, the company’s easy-to-use loyalty program Target Circle has completed a year and brings a lot more ways to increase savings for its approximately 80 million customers this holiday season. The big-box retailer also plans to offer about 1 million more deals this holiday season than the prior year.
Through Target's loyalty programs, members have saved around $2 billion via the Target Circle offers and earned roughly $200 million on 1% rewards on purchases for their future visit to the stores. As part of this program, the company has directed over $7 million to nearly 2,500 local and national non-profit firms.
Notably, Target Circle members can freely access all the holiday offers at one place. These offers can be availed whether guests shop from store or opt for its contactless same-day fulfillment services. Its same-day services consist of Drive Up, Order Pickup and Same-Day Delivery with Shipt. The Drive Up facility is available across the company’s 1,800 stores nationwide while Order Pickup can be availed at all its outlets. Customers have been responding positively to such shopping tools.
Meanwhile, the company has been deploying resources to enhance omni-channel capabilities, introduce new brands, refurbish stores and expand same-day delivery options to provide a seamless shopping experience. It has been making multiple changes to its business model to adapt and stay relevant in the ever-evolving retail landscape. Recently, Target entered into a strategic long-term partnership with Ulta Beauty (ULTA - Free Report) . According to the agreement, Ulta Beauty will open mini cosmetics shops inside Target. This shop-in-shop concept will be put in place across select Target stores and online. As a result of the tie-up, Ulta Beauty’s emerging and prestige beauty brands will be available at more than 100 Target stores in 2021.
The company is awarding a bonus of $200 to more than 350,000 team members ahead of the holidays in appreciation of the unprecedented efforts of frontline workers amid the pandemic. The $70-million bonus will be provided to eligible hourly team members in stores and distribution centers. This also includes seasonal hires and hourly team members who provide support to Target’s guest and team member contact centers.
This Minneapolis, MN-based company’s shares have surged 46.8% in a year while outperforming the industry’s 18.1% rally. Target currently displays a Zacks Rank #2 (Buy).
More Key Picks in Retail
Tapestry (TPR - Free Report) has a long-term earnings-growth rate of 9.3% and currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Boot Barn (BOOT - Free Report) , also a Zacks Rank #1 stock with a long-term earnings-growth rate of 20%.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by referendums and legislation, this industry is expected to blast from an already robust $17.7 billion in 2019 to a staggering $73.6 billion by 2027. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot stocks we're targeting >>