Target 2012 Annual Report Download - page 20

Employees
At February 2, 2013, we employed approximately 361,000 full-time, part-time and seasonal employees, referred to
as ‘‘team members.’’ During our peak sales period from Thanksgiving to the end of December, our employment
levels peaked at approximately 409,000 team members. We offer a broad range of company-paid benefits to our
team members. Eligibility for, and the level of, these benefits varies, depending on team members’ full-time or
part-time status, compensation level, date of hire and/or length of service. These company-paid benefits include a
pension plan, 401(k) plan, medical and dental plans, a retiree medical plan, disability insurance, paid vacation,
tuition reimbursement, various team member assistance programs, life insurance and merchandise discounts. We
consider our team member relations to be good.
Working Capital
Because of the seasonal nature of our business, our working capital needs are greater in the months leading up to
our peak sales period from Thanksgiving to the end of December. The increase in working capital during this time is
typically financed with cash flow provided by operations and short-term borrowings. Additional details are provided
in the Liquidity and Capital Resources section in Item 7, Management’s Discussion and Analysis of Financial
Condition and Results of Operations.
Effective inventory management is key to our ongoing success. We utilize various techniques including demand
forecasting and planning and various forms of replenishment management. We achieve effective inventory
management by being in-stock in core product offerings, maintaining positive vendor relationships, and carefully
planning inventory levels for seasonal and apparel items to minimize markdowns.
Competition
We compete with traditional and off-price general merchandise retailers, apparel retailers, internet retailers,
wholesale clubs, category specific retailers, drug stores, supermarkets and other forms of retail commerce. Our
ability to positively differentiate ourselves from other retailers largely determines our competitive position within the
retail industry.
Intellectual Property
Our brand image is a critical element of our business strategy. Our principal trademarks, including Target,
SuperTarget and our ‘‘Bullseye Design,’’ have been registered with the U.S. Patent and Trademark Office. We also
seek to obtain and preserve intellectual property protection for our owned brands.
Geographic Information
Through 2012, all of our revenues were generated within the United States. Beginning in fiscal 2013, a modest
percentage of our revenues will be generated in Canada. The vast majority of our long-lived assets are located
within the United States and Canada.
Available Information
Our Annual Report on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K and amendments to
those reports filed or furnished pursuant to Section 13(a) or 15(d) of the Exchange Act are available free of charge at
www.Target.com/Investors as soon as reasonably practicable after we file such material with, or furnish it to, the
U.S. Securities and Exchange Commission (SEC). Our Corporate Governance Guidelines, Business Conduct
Guide, Corporate Responsibility Report and the position descriptions for our Board of Directors and Board
committees are also available free of charge in print upon request or at www.Target.com/Investors.
4