after-tax return on invested capital from continuing operations (ROIC) (a) (b)
trailing four quarters
Title
34.0%
32.0%
30.0%
28.0%
26.0%
24.0%
22.0%
20.0%
18.0%
16.0%
14.0%
12.0%
10.0%
1Q
2Q
3Q
4Q
2017(c)
2018(c)
2019
2020
2021
ROIC
Fiscal Year
1Q
2Q
3Q
4Q
2021
30.7 %
31.7 %
31.3 %
-
2020
13.4 %
17.2 %
19.9 %
23.5 %
2019
14.3 %
15.2 %
15.0 %
16.0 %
2018 (c)
15.2 %
16.0 %
15.8 %
14.7 %
2017 (c)
15.4 %
ROIC excluding discrete impacts of the Tax Cuts and Jobs Act
Fiscal Year
1Q
2Q
3Q
4Q
2021
30.7 %
31.7 %
31.3 %
-
2020
13.4 %
17.2 %
19.9 %
23.5 %
2019
14.1 %
15.0 %
15.1 %
16.0 %
2018 (c)
13.5 %
14.2 %
13.9 %
14.6 %
2017 (c)
13.6 %
In January 2015, following a comprehensive assessment of Canadian operations, Target's Board of Directors approved a plan to discontinue operating stores in Canada. ROIC figures presented exclude discontinued operations.
ROIC is a ratio based on GAAP information, with the exception of the add-back of operating lease interest to operating income. We believe ROIC is useful in assessing the effectiveness of our capital allocation over time. Other companies may calculate ROIC differently, limiting the usefulness of the measure for comparisons with other companies.
The trailing 12 months ended November 3, 2018, August 4, 2018, May 5, 2018, and February 3, 2018, consisted of 53 weeks compared with 52 weeks in the comparable periods presented.
Last Updated: 11/17/2021
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Target Corporation published this content on 17 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 November 2021 11:47:09 UTC.
Target Corporation specializes in retail distribution. Net sales break down by family of products as follows:
- household and beauty products (26.5%) ;
- furnishings and decorative items (19.7%) ;
- food and beverage (19.6%);
- electronic products, sporting goods and toys (18%) ;
- apparel and accessories (16%) ;
- other (0.2%).
As of January 30, 2021, products are marketed through a network of 1,897 stores located in the United States (of which 1,526 owned), and through the Internet.
All sales are in the United States.
TARGET CORPORATION 
