Target, Inc.

The Minneapolis Star-Tribune is reporting that Target laid off 140 staffers and eliminated 50 open positions at its headquarters on Wednesday.

According to the newspaper, the eliminated positions were in places “we identified redundancies or opportunities for greater efficiencies,” Molly Snyder, a Target spokeswoman, wrote in an e-mail. 

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No great surprise that Walmart sits atop the Fortune 500 list of the world’s largest companies with its annual revenues of $485.6 billion.

Naturally, that raises familiar questions about future growth which were addressed by president and CEO Doug McMillon.

According to Fortune, Walmart is a crossroads as it transitions from the big-box era that propelled it to the world's largest company, to one in which customers are fussier about what they eat and can easily comparison shop thanks to the internet.

Generation Y prefers to shop at Walmart over Target, Costco, Kroger, Whole Foods, and Trader Joe’s, according to Ad Age.

"Millennials now, as a generation, like Walmart the best, more so than Generation X, more so than boomers," Matt Kistler, Walmart’s senior VP-consumer insights and analytics, said.

Walmart is most popular among people under 24, as well as every store but Target among 25- to 34-year-olds, according to InfoScout, a provider of shopper insights with a nationwide panel of more than 170,000 shoppers.

Target chairman and CEO Brian Cornell commented on the chain’s new partnership with CVS Health in a Q&A on Target’s blog, A Bullseye View. Here are some excerpts: 

Woonsocket, R.I., and Minneapolis —Target plans to sell its pharmacy business to CVS Health for $1.9 billion and rebrand its nearly 1,700 prescription departments as CVS/pharmacy in a blockbuster deal that stunned the healthcare world.

Target’s annual meeting was pretty much a non-event on June 10, aside from the fact that a corporate structure in which Brian Cornell serves as both chairman and CEO doesn’t sit well with many shareholders. 

Target chairman and CEO Brian Cornell commented on the chain’s new partnership with CVS Health in a Q&A on Target’s blog, A Bullseye View. Here are some excerpts: 

Minneapolis – Target Corp. is doubling the amount of its share buyback authorization from $5 billion to $10 billion. Under this authorization, through first quarter 2015, the company had invested a total of $3.7 billion to retire 56.9 million shares at an average price of $65.06 per share.

Value priced teen retailer Five Below is making a big splash in the Sunshine State this month with the opening of nine stores there as the company continues to expand across the country.

Target is doubling the amount of its share buyback authorization from $5 billion to $10 billion and boosting its quarterly dividend by 7.7%, confirming the contents of a statement it published inadvertently and took off its website earlier on Tuesday.