Target Launches Membership After Annual Revenue, Sales Decline

A bright spot for the Minneapolis-based retailer was holiday profit in the fourth quarter, which rose 58 percent over last year’s final quarter.

An employee collects shopping carts at a Target store in Highlands Ranch, Colo., on June 9, 2021. David Zalubowski/AP

Target’s annual revenue declined last year while sales at stores open for at least one year dropped for the first time since 2016.

America’s sixth-largest retailer predicted weak sales again this year, driven in part by higher prices.