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This statistic highlights Target’s Revenue by Product Category from Q1 2016, split across Apparel and accessories, Beauty and household essentials, Food and beverage, Hardlines, Home furnishings, and decor, and Other.
Target Corporation offers everyday staples and attractive, unique products at low costs to its clients, referred to as “guests”. Their supply chain and technology, commitment to innovation, loyalty offerings, and disciplined approach to managing their business and investing in future growth all contribute to their ability to provide a preferred shopping experience for the guests. They operate as a single section to allow guests to purchase products at stores or through their digital channels in a smooth manner.
Target’s Revenue by Product Category
Target Corporation’s products are classified into the following categories:
|Product||Revenue in Q4 2019||Revenue in Q3 2020||Revenue in Q4 2020||Revenue Share in Q4 2020|
|Apparel and accessories||$3.79||$3.93||$4.14||14.8%|
|Beauty and household essentials||$5.44||$6.10||$6.29||22.5%|
|Food and beverage||$4.14||$4.40||$4.98||17.8%|
|Home furnishings and decor||$4.45||$4.51||$5.84||20.8%|
(All figures in billions, except percentages)
Target generates nearly all of its revenue from the United States. Their total revenue increased from $23.13 billion in Q4 2019 to $28 billion in Q4 2020, marking a 21% increase on a year-on-year basis. It also grew by 25.3% compared to $22.34 billion earned in Q3 2020.
Apparel and accessories
Target’s Apparel and accessories include apparel, jewelry, accessories, and shoes for men, women, boys, girls, toddlers, infants, and newborns.
Target’s revenue from Apparel and accessories amounted to $4.14 billion in Q4 2020, up by 9.2% from $3.79 billion in Q4 2019 and by 5.5% from $3.93 billion in Q3 2020. Apparel and accessories contributed to 14.8% of Target’s total revenue.
Beauty and household essentials
Target’s Beauty and household essentials consist of beauty and personal care, baby gear, cleaning, paper products, and pet supplies.
In Q4 2020, Target’s Beauty and household essentials earned $6.29 billion, which was a 15.5% increase compared to $5.44 billion earned in Q4 2019 and a 3% increase compared to $6.10 billion earned in Q3 2020. Beauty and household essentials accounted for 22.5% of Target’s revenue.
Food and beverage
Target’s Food and beverage consists of dry grocery, dairy, frozen food, snacks, deli, bakery, meat, produce, beverages, and food service provided in their stores.
Target’s revenue from Food and beverage grew by 20.2% from $4.14 billion in Q4 2019 to $4.98 billion in Q4 2020. It also increased by 13.2% compared to $4.4 billion earned in Q3 2020. Food and beverage contributed to 17.8% of Target’s total revenue.
Target’s Hardlines include electronics such as video games, hardware, and software, as well as toys, entertainment, sporting goods, and luggage.
In Q4 2020, Hardlines contributed to 23.8% of Target’s total revenue amounting to $6.67 billion, up by 27.1% from $5.25 billion in Q4 2019 and by 97.4% from $3.38 billion in Q3 2020.
Home furnishings and decor
Target’s Home furnishings and decor consist of furniture, lighting, storage, kitchenware, small appliances, home décor, bed and bath, home improvement, school & office supplies, greeting cards and party supplies, and other seasonal merchandise.
Target’s Home furnishings and décor’s revenue grew by 31.3% from $4.45 billion in Q4 2019 to $5.84 billion in Q4 2020. It also increased by 29.5% compared to $4.51 billion earned in Q3 2020. Home furnishings and decor accounted for 20.8% of Target’s revenue.
Target’s Other includes advertising, Shipt membership, service revenues, rental income, and other miscellaneous revenues.
Target’s Other category generated $0.086 billion in revenue, in Q4 2020, up by 38.7% from $0.06 billion in Q4 2019 and by 230.8% from $0.026 billion in Q3 2020. This category contributed to 0.3% of Target’s Total revenue.
About Target Corporation
Target Corporation is a retail company established in Minneapolis, Minnesota, United States. Target was founded in 1962 as a discount division of Dayton’s Company. In the 1980s, the Dayton firm expanded its store network across the United States, and in the 1990s, it developed new store formats under the “Target” brand. In the year 2000, the parent company was renamed Target Corporation.
Target Corporation’s common stocks are listed on the NYSE under the symbol ‘TGT’. It is the 8th largest retailer in the U.S. It was ranked 37th among the Fortune 500 list of the largest U.S corporations in 2020.
Target, the hypermarket SuperTarget, and “small-format” stores originally known as CityTarget and TargetExpress before being merged under the Target brand are among its retail formats. Target operates more than 1844 stores across the United States. Some of the top competitors of Target Corporation include Walmart, Albertsons, eBay, Giant Eagle, Ascena Retail Group, and Kroger.
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