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Morningstar•June 14, 2021
Morningstar•June 14, 2021Target Corporation: Target’s Pandemic-Era Performance Continues To Impress, but Long-Term Competition Looms
Summary
With 1,897 stores (as of the end of fiscal 2020), Target is a leading American general merchandise retailer, offering a variety of products across several categories, including beauty and household essentials (26% of fiscal 2020 sales), food and beverage (20%), home furnishings and décor (20%), hardlines (18%), and apparel and accessories (16%). Most of Target’s stores are large, averaging nearly 130,000 square feet. The company has a significant e-commerce presence, deriving around 18% of sales from the channel (up from about 9% in fiscal 2019, before the pandemic). In
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Analyst Profile
Zain Akbari
Equity AnalystZain Akbari, CFA, is an equity analyst for Morningstar Research Services LLC, a wholly owned subsidiary of Morningstar, Inc. He covers food companies, auto parts retailers, and information services firms.Before joining Morningstar in 2015, Akbari spent several years at UBS, most recently leading the firm’s Liability Management, Americas team. During his time at UBS, Akbari structured and executed bond buybacks, exchange offers, and covenant modifications for investment-grade, high-yield, and convertible securities issued by American and Asian companies.Akbari holds a bachelor’s degree in finance and real estate from The Wharton School of The University of Pennsylvania and master’s degree in business administration from the University of Chicago Booth School of Business.