CLAIM #55778 · Target Corporation (TGT) · 2023Q4 earnings call · Mar 5, 2024 · due Mar 5, 2025
“And we'll continue to expand Favorite Day into those big seasonal moments that are so important to our guests and important to keeping Target relevant.”
Richard Gomez · EVP, Chief Food & Beverage Officer
In context
“other things, that led to the adaptive items we created to help all kids look and feel their best and the expansions we made to our dressy and mid-dressy assortment, giving families more reasons to choose Cat & Jack and Target. Richard Gomez: Consumer insight has also helped to continue to develop and grow Favorite Day. We launched the brand during the pandemic, and we've seen it drive trips, build baskets, delivering double-digit growth year after year. So as Food & Beverage has become a go-to category for Target during the holidays, we've expanded the role of Favorite Day to offer key seasonal items. You saw that in November and December with gingerbread kits, hot cocoa-bombs, a huge range of snack mixes. And just a few weeks ago, Favorite Day was front and center for Valentine's Day. And we'll continue to expand Favorite Day into those big seasonal moments that are so important to our guests and important to keeping Target relevant. A. Hennington: Well, Jill, this leads the enhanced approach we take into brand management, including a team under your leadership. Jill Sando: We launched our brand management capability years ago and created an end-to-end process to successfully launch owned brands. And that has enabled an accelerated rollout of owned brands over the past 5 years. And we've been evolving our capabilities and are now operating more like a CPG company, the research, the market analysis, looking hard at the white space. That's shaped our decision making around existing brands, like prioritizing Threshold as our flagship home brand and then offering a range of styles within it. That's critical because Target is one of the biggest home retailers in the country, and this is making it easier for our consumers”
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SEC filings for TGT ↗ · Claim quote is verbatim from the 2023Q4 earnings call.