Target 2009 Annual Report Download - page 4

Download and view the complete annual report

Please find page 4 of the 2009 Target annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 88

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88

As consumers modied their shopping behavior in 2009 in light of
overwhelming uncertainty, Target remained focused on initiatives
to deliver a superior guest experience, drive growth, enhance gross
margin and protability, improve expense management and invest
capital productively. For example:
• WeaddedourPFreshdesigntomorethan100newandremodeled
stores, providing an expanded assortment of dry, dairy, frozen and
perishable food in our general merchandise format;
• Weallocatedmorespacetotrafc-drivingcategoriesinourstores
and marketing;
• Weleveragedthepowerofourownedbrandsbyrepositioningour
household essentials brand, more clearly articulating the value in our
offeringsandintroducingnew,high-qualityassortmentsasnational
brand alternatives;
• Weworked diligentlytoremovetheprice perceptiongapbyintro-
ducingourLowPricePromiseandreinforcingourexceptional
pricing
throughcompetitiveshopping,in-storesigningandadvertising;
• Weprovidedacontinuouspipelineofnewandexclusivemerchandise
at exceptional values to surprise and delight our guests;
• We carefully controlled our expenses without compromising our
brand or our guests’ shopping experience;
• We prudently invested capital in new stores, remodels and infra-
structure,maintainingampleliquidityinadifcultenvironmentand
generating record cash ow;
2
In a year of unprecedented challenges, our unwavering
commitment to innovation and discipline ensured continued
relevance with our guests and positioned Target to deliver
stronger than expected nancial results.
With the successful relaunch
of Target Brand as up & up, we
established a compelling new
identity for our core commodities
brand that delivers on our “Expect
More. Pay Less.” brand promise.
We improved Target.com navigation
to promote cross-channel shopping.
More free shipping promotions
and the introduction of Daily Deals
reinforce our commitment to
exceptional value.
to our shareholders