Target Corp. is the second-biggest U.S. discount retailer. It differentiates itself by selling stylish products at reasonable prices. The company has partnerships with an evolving group of designers. Based in Minneapolis, Target ended FY20 with 1,868 stores in the U.S. representing 240 million square feet. In January 2015, the company announced its exit from the Canadian store market along with plans to close approximately 130 stores in Canada. Target sold its in-store pharmacies to CVS in December of 2015. For the fiscal year ended February 1, 2020, the company had total revenues of $78 billion. Sales on Target.com represented about 8.8% of the total in FY20, up from 7% in FY19, 5.5% in FY18, and 4.4% in FY17. The company's fiscal year ends on the Saturday closest to January 31. Approximately 27% of merchandise sales came from Beauty and Household Essentials, 16% from hardlines, 18% from apparel and accessories, 19% from home products, and 20% from food.
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Chris Graja, CFASenior Analyst: Retail