Target Schedules Eight Oct. 11 Store Openings; Victoria’s Secret Plans More Marketing

Target lists eight stores scheduled to open October 11 and describes additional store payroll and training investment. Victoria’s Secret & Co. says it plans to increase strategic marketing investment after reporting second-quarter sales growth. For workers following the retailers’ turnaround plans, Target has identified a store-opening date; Victoria’s Secret has named an investment priority without specifying a hiring total.

The plans come from earlier announcements, rather than a new joint development. Target’s store-opening fact sheet was updated September 2, and Victoria’s Secret discussed marketing in its September 3 results. The eight Target openings remain scheduled, not completed.

Target: stores and lower prices

Target reported August 19 that second-quarter net sales rose 5.3% year over year to $26.5 billion and comparable sales increased 3.8%. On September 29, it announced price reductions on nearly 2,000 home, apparel and accessories items. Target says prices and availability vary, and the reductions exclude Alaska and Hawaii.

The October 11 store schedule gives workers a date to watch. Target’s stated payroll and training investment describes a staffing-related priority, though the fact sheet does not turn the eight openings into a specified number of new jobs.

Victoria’s Secret: sales and marketing

Victoria’s Secret reported September 3 that net sales for its second quarter ended August 1 rose 10% year over year to $1.611 billion; total comparable sales rose 9%. CEO Hillary Super described plans to increase strategic marketing investment. That is a stated spending direction, not an announced hiring total.

The companies’ reported sales and comparable-sales gains provide a common way to examine their second quarters. For employment, the next dated event in these plans is Target’s scheduled October 11 openings; neither company’s sales percentage establishes how many people it will hire.