Target’s end of year sale celebrates another record year

Written by Harry Butler

March 3, 2011 | 12:38

Companies: #target

Target’s end of year sale celebrates another record year

To celebrate another record-breaking year, Target are launching an “end of year” sale in March with discounts of up to 50% on over half a million pounds of products.

The Yorkshire based distributor broke all their previous records in the year to March 2010, with turnover up 35% and profits over three times their previous best, but have already smashed both records this year.

Celebrating a new record year before it’s even finished may seem a tad presumptuous, but according to Target’s Managing Director, Paul Cubbage, Target passed last year’s record turnover figure with over a month remaining, and had already surpassed last year’s record profit by November.

Cubbage stresses that the month-long sale is not just to celebrate their record performance, but to thank their customers for their support throughout the year “at a time that really matters to them”.

“We had initially planned to have a big month long sale once we’d completed our year end, but as our sales team were quick to point out, it would be of less benefit to our customers in the summer when business tends to be a bit quieter anyway. After throwing around various suggestions, we’ve selected March because it’s not only our year end but also our busiest month of the year.”

The sale comprises products from right across Target’s range, discounting over 400 product lines worth over £1/2m, and is designed to offer “something for everyone”. The sale encompasses products from over 50 of Target’s vendors, but Cubbage is quick to point out that the sale is funded entirely by Target without vendor sponsorship.

Cubbage explains that the move is part of a process of “giving something back” to those who have helped with the distributor’s success over recent years. “We’ve always believed in sharing the benefits of our success with those who’ve contributed. We’ve done this for the last few years internally, by sharing 10% of our profits equally between all staff. This is simply another way of sharing the benefits with our customers, without whose support we couldn’t have hit the levels we have in recent years.”

The initiative follows Target’s recent slashing of drop-ship charges for its etail customers and is part of an ongoing review of all areas to, as Cubbage says, “add extra value wherever possible”, with more announcements promised over the next few months.
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