US discount retailer Target Corp. posted a 41% drop in fourth-quarter net income today (24 February) as the company struggled amid the economic downturn.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more


Net income dropped to US$609m for the quarter ended 31 January, down from $1.03bn a year earlier.


Revenue in the quarter fell 1.6% to $19.02bn. Sales at stores open at least a year fell 5.9% the company said. Sales at new stores partially offset that.


The Minneapolis-based retailer posted total revenue of $64.95bn in 2008, up 2.5% from the previous year.


Full-year retail segment EBIT declined 6% to $4.1bn.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

“Our financial results for both the fourth quarter and 2008 fiscal year reflect the impact of unprecedented economic conditions on both of our business segments,” said Gregg Steinhafel, chairman, president and CEO.


“In 2009, we are focused on continuing to grow our market share profitably.”