Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Nyse  >  Target Corporation    TGT

TARGET CORPORATION

(TGT)
  Report  
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsPress ReleasesOfficial PublicationsSector newsAnalyst Recommendations

Target : Chief Merchant Quits to Run Bed Bath & Beyond -- Update

share with twitter share with LinkedIn share with facebook
share via e-mail
0
10/09/2019 | 05:43pm EDT

By Sarah Nassauer

Target Corp.'s chief merchant, Mark Tritton, has resigned ahead of the key holiday season to take the top job at Bed Bath & Beyond Inc., a rival chain that has been struggling to adapt to the shifting retail landscape.

Mr. Tritton, who joined Target in 2016 from Nordstrom Inc., helped launch a collection of house brands for the chain, including a new line of lingerie and inexpensive toiletries. The moves, along with Target's recent investments in its stores and ecommerce, helped reverse a sales slump.

At Bed Bath & Beyond, he will take over a 1,000-store chain that competes with Target and has been contending with falling sales and board upheaval. The housewares chain, under pressure from activist investors, has been looking for new permanent leader since earlier this year. Mr. Tritton will join as chief executive and a board member on Nov. 4.

Target said two existing executives will take over Mr. Tritton's duties on an interim basis and report directly to CEO Brian Cornell. The company said it isn't conducting an external search for a new merchandising chief.

Target also said it promoted Michael Fiddelke to be its chief financial officer starting Nov. 1, succeeding Cathy Smith, who had previously announced plans to retire. Mr. Fiddelke, a 15-year Target veteran, was most recently senior vice president of operations.

Shares of Bed Bath & Beyond, which have tumbled by half since April, jumped 17% in late trading Wednesday to $11.65. Shares of Target, which have gained more than 60% this year, were little changed.

Mr. Tritton takes over at Bed Bath & Beyond from board member Mary Winston, who held the CEO job on an interim basis after longtime chief Steven Temares exited in May. Three activist investors disclosed a stake in the company earlier this year and called for changes, saying Bed Bath & Beyond failed to adapt its business model to the rise of ecommerce.

Bed Bath & Beyond has been conducting a strategic review of its portfolio, which totals roughly 1,500 stores including the Buy Buy Baby and Christmas Tree Shops chains. In the latest quarter, the company posted a net loss of $139 million on $2.7 billion of revenue.

Write to Sarah Nassauer at [email protected]

Stocks mentioned in the article
ChangeLast1st jan.
BED BATH & BEYOND INC. 3.17% 12.365 Delayed Quote.9.23%
TARGET CORPORATION 0.27% 112.19 Delayed Quote.69.30%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on TARGET CORPORATION
10/11MARKET SNAPSHOT: Dow Closes 300 Points Higher After U.S.-China Trade Truce
DJ
10/11BED BATH & BEYOND : Shares Continue to Rise in Friday's Market
DJ
10/11Stocks to Watch: Fastenal, SAP, U.S. Steel, Bed Bath & Beyond
DJ
10/11Stocks to Watch: U.S. Steel, Bed Bath & Beyond, Jeld-Wen, Voxx International
DJ
10/10TARGET : Statement of changes in beneficial ownership of securities
PU
10/10MARKET SNAPSHOT: Stocks Notch Consecutive Gains As Trump Plans To Meet China'..
DJ
10/10BED BATH & BEYOND : Shares Rise After Company Says Target's CMO Will Take Over
DJ
10/10TARGET : Thinking about buying stock in Bristol-Myers Squibb, Canopy Growth Corp..
PR
10/10Bed Bath Poaches Target for CEO -- WSJ
DJ
10/09TARGET : Chief Merchant Quits to Run Bed Bath & Beyond -- Update
DJ
More news
Financials (USD)
Sales 2020 78 265 M
EBIT 2020 4 543 M
Net income 2020 3 167 M
Debt 2020 10 681 M
Yield 2020 2,32%
P/E ratio 2020 18,2x
P/E ratio 2021 17,1x
EV / Sales2020 0,87x
EV / Sales2021 0,84x
Capitalization 57 321 M
Chart TARGET CORPORATION
Duration : Period :
Target Corporation Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends TARGET CORPORATION
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 28
Average target price 113,79  $
Last Close Price 112,19  $
Spread / Highest target 16,8%
Spread / Average Target 1,43%
Spread / Lowest Target -26,9%
EPS Revisions
Managers
NameTitle
Brian C. Cornell Chairman & Chief Executive Officer
John J. Mulligan Chief Operating Officer & Executive Vice President
Catherine R. Smith Chief Financial Officer & Executive Vice President
Michael E. McNamara Chief Information Officer & Executive VP
Rich Agostino Chief Information Security Officer & Senior VP
Sector and Competitors
1st jan.Capitalization (M$)
TARGET CORPORATION69.30%57 321
COSTCO WHOLESALE CORPORATION46.67%131 351
WAL-MART DE MÉXICO, S.A.B. DE C.V.13.21%51 390
DOLLAR GENERAL CORPORATION50.11%41 707
BURLINGTON STORES, INC.26.37%13 526
DOLLARAMA INC.44.19%11 175