Target Financial OutlookEssay Preview: Target Financial OutlookReport this essayTarget Annual ReportWhat is the mission statement of the company?The mission statement of the company is “Expect More. Pay less.” To better explain the mission statement, Target is an upscale discounter that provides high-quality on-trend merchandise at attractive prices in clean, spacious and guest-friendly stores.
Is the company living up to its mission?Target is living up to its mission very well. Target has been able to stand out amongst competition, such as Wal-Mart and K-Mart, with their comparable prices and customer service. When comparing Wal-Mart prices with Target, they appear around the same price or below and the merchandise is a better quality. They have made deals with expensive designer brands to carry affordable, quality clothes that everyone can afford. The aisles of the store are spacious compared to competitive store aisles that are skinny and hard to shop through. Not only the inside of the store is clean, but the surrounding area of the facility as well. The guest-friendly store environment is established by training employees to see customers as guests in their stores. Target doesn’t call it customer service, but Guest Service to give the customer a feeling of being wanted and invited into the store. Target has separated itself from comparable stores by providing guests with service of an upscale retailer but with affordable prices of a discount store.
Comment on the letter from the CEO? Anything interesting?The letter from the CEO shows Target’s innovation and inspiration, staring from the past, commenting on the present, and moving into the future. Bob Ulrich starts by talking about what the company has accomplished within the past year with products, investments, and growth. Target seems very dedicated to not only their guests but also to their loyal employees and rely on them to achieve more success. It was interesting to see how Ulrich talked about Target online as being important with internet shopping increasing among transactions. I was aware Target gave a percent of income to the community before reading the letter, but it was interesting to learn the amount totaled to more than $3 million a week. I was also surprised Target’s environmental
s, which led to the opening of some new stores. I was also surprised that a small team of folks is doing all that shopping in the store. The opening of Target’s store was a major accomplishment and was one of the first to bring the store to the global markets, especially in Brazil and other locations. The store also opened in Los Angeles. Target’’s focus was on the local food industry, and the local community was critical to a change that led to growth. This is what I believe this letter represents:
To celebrate its first year of being open to the public, the company is looking forward to seeing more of the company’s fans! To our fans, we’re excited to say thank you for your support this year! As you can see from the above photos, the store will open on April 9th, and it will be open on Sunday, April 12th!
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The Target store is open to all, so take a moment to look through the photos for a sneak peek!
Update 6/16: Since Facebook announced the new store, I received a comment from a person who asked that I update their post on that post to emphasize a part of their appeal about Target’s brand. That person responded that the store is designed to appeal to people who love the food they serve, and what they consider to be their unique, wholesome experience “faster than the sum of our parts.” I’ll leave it at that for another posting.
UPDATE 6/9: Today I got another letter from a friend of mine, who told me that he is also open to opening another store in the coming years.
I am so excited to welcome to my second year of operation another very unique, local store, but first I want to say a big THANK YOU for the kind words of your friend. He’s been sending you letters from the community and from everywhere I can tell, thank you very much.
As always, we truly appreciate all of the love that you have shown as you have been able to have me work long hours, with a team to keep delivering you the best shopping experience.
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Update 12/30: As promised, this is the first part of the annual Christmas card for us. Here are some new photos from last year.
Update 2/7: Facebook confirmed to me earlier today that they will be expanding TargetвРduring this year’s Open season, as well as on the second half of November.
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Update 12/18: I received a letter from a new family friend who’s also planning to open another local store. He also asked that I update my post there if you have any advice for that store. I will update this story as I hear back.
Update 11/3: Facebook has confirmed that it will open more stores throughout their Open season across the world in 2017 in the United States and Canada.
UPDATE 10/4: Facebook announced its new store, TargetвгÐ