Target to offer Redcard holders an additional 5% off at check-out

MINNEAPOLIS Target announced that beginning this fall guests will receive 5% off at check-out every day when they use a REDcard at any Target store or on Target.com. Target's REDcards include the Target Credit Card, Target Visa Credit Card and Target Check Card debit product.

"We're excited to offer this outstanding value to our REDcard holders across the country," said Gregg Steinhafel, chairman, president and chief executive officer of Target. "We believe guests will appreciate the simplicity and compelling value of this program, which will lead them to choose to shop more often at Target. As a result, we expect this new program to drive profitable incremental sales, which will more than offset the cost of providing this everyday discount to our cardholders."

For Target's 2010 fourth quarter, the program is expected to add approximately one percentage point to comparable-store sales and have little to no impact on consolidated earnings, the company reported. The program is expected to add between one and two percentage points to Target's comparable-store sales and to be accretive to consolidated earnings in 2011.