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CLAIM #55565 · TGT (TGT) · 2021Q4 earnings call · Mar 1, 2022 · due Dec 31, 2022

But by changing the way we work, working hard to build new relationships and by using our size and scale to help brands grow for success in mass retail, we'll end 2022 with more than 50 Black-owned brands in our Food & Beverage assortment.

Richard Gomez · Chief Merchandising Officer, Food & Beverage

PENDING
graded after results covering Dec 31, 2022 are reported

In context

-label brands. And there's more. Favorite Day, a new brand of craveable baked goods and treats that draws guests into the food aisles. For instance, some of you might have come to Target because their kindergartner lost a sneaker and she has gym class tomorrow. But while dad's there, he might as well reward himself with a container of Peanut Butter Monster Trail Mix for the home office. Now Target-owned brands are only part of the story. We are also elevating our assortment by diversifying our assortment because we know that representation is critical to ensuring that we are -- that our offering is relevant to all our guests. Now when we decided at the beginning of last year to accelerate our commitment to adding more Black-owned brands, we had a dozen in our Food & Beverage assortment. But by changing the way we work, working hard to build new relationships and by using our size and scale to help brands grow for success in mass retail, we'll end 2022 with more than 50 Black-owned brands in our Food & Beverage assortment. And we won't stop there. Because these brands don't just make us more relevant, they make our assortment better. A great example is McBride Sisters wine, a Black female-owned business. We actually started working with them back in 2018 with a small partnership in about 100 stores in the South. Today, McBride Sisters is available in over 1,200 stores; or Everything Legendary, a company one of our buyers saw on television and couldn't wait to work with. So the next morning, he picked up the phone, sparking a relationship that led to Everything Legendary becoming Target's first Black-owned, plant-based meat supplier. And Target has taken a strong position in coffee, a category where our guests have especially high expectations. Black & Bold is a 3.5-year-old company founded by 2 childhood

Verify independently

SEC filings for TGT · Claim quote is verbatim from the 2021Q4 earnings call.