Target Launches Paid Membership Program Offering Free Same-Day Delivery to Boost Sales
• Target launching new paid membership program called Target Circle 360, offering free same-day delivery and other benefits for $49-$99 per year
• Program aims to boost sales and traffic, which declined 1.7% last year - Target's first annual sales drop in 7 years
• Target plans to refresh stores, expand private label brands, open 300+ new stores over next decade
• Company reported 58% jump in Q4 profits, but offered cautious outlook on near-term sales
• CVS closing dozens of in-store Target pharmacies in early 2024 as part of previously announced restructuring