Finance: Target Annual Report

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Target Annual Report

1.What 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.

2.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.

3.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...
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