<SEC-DOCUMENT>0001104659-15-018413.txt : 20150310 <SEC-HEADER>0001104659-15-018413.hdr.sgml : 20150310 <ACCEPTANCE-DATETIME>20150310110620 ACCESSION NUMBER: 0001104659-15-018413 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20150310 ITEM INFORMATION: Cost Associated with Exit or Disposal Activities FILED AS OF DATE: 20150310 DATE AS OF CHANGE: 20150310 FILER: COMPANY DATA: COMPANY CONFORMED NAME: TARGET CORP CENTRAL INDEX KEY: 0000027419 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-VARIETY STORES [5331] IRS NUMBER: 410215170 STATE OF INCORPORATION: MN FISCAL YEAR END: 0131 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-06049 FILM NUMBER: 15687582 BUSINESS ADDRESS: STREET 1: 1000 NICOLLET MALL CITY: MINNEAPOLIS STATE: MN ZIP: 55403 BUSINESS PHONE: 6123046073 MAIL ADDRESS: STREET 1: 1000 NICOLLET MALL CITY: MINNEAPOLIS STATE: MN ZIP: 55403 FORMER COMPANY: FORMER CONFORMED NAME: DAYTON HUDSON CORP DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: DAYTON CORP DATE OF NAME CHANGE: 19690728 </SEC-HEADER> <DOCUMENT> <TYPE>8-K <SEQUENCE>1 <FILENAME>a15-6342_18k.htm <DESCRIPTION>8-K <TEXT> <html> <head> </head> <body lang="EN-US"> <div style="font-family:Times New Roman;"> <div style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:none;border-top:solid windowtext 3.0pt;padding:1.0pt 0in 1.0pt 0in;"> <p style="border:none;margin:0in 0in .0001pt;padding:0in;"><font size="1" face="Times New Roman" style="font-size:1.0pt;"> </font></p> </div> <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"> </font></p> <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">UNITED STATES</font></b></p> <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">SECURITIES AND EXCHANGE COMMISSION</font></b></p> <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Washington, D.C. 20549</font></b></p> <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"> </font></p> <div align="center" style="margin:0in 0in .0001pt;text-align:center;"><hr size="1" width="25%" noshade color="black" align="center"></div> <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"> </font></p> <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">FORM 8-K</font></b></p> <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"> </font></p> <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">CURRENT REPORT</font></b></p> <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</font></b></p> <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"> </font></p> <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Date of Report (Date of earliest event reported) <b>March 10, 2015</b></font></p> <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"> </font></p> <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">Target Corporation</font></b></p> <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Exact name of registrant as specified in its charter)</font></p> <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"> </font></p> <div align="center"> <table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr> <td width="34%" valign="top" style="padding:0in 0in 0in 0in;width:34.08%;"> <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Minnesota</font></b></p> </td> <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;"> <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;"> </font></b></p> </td> <td width="29%" valign="top" style="padding:0in 0in 0in 0in;width:29.92%;"> <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">1-6049</font></b></p> </td> <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;"> <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;"> </font></b></p> </td> <td width="32%" valign="top" style="padding:0in 0in 0in 0in;width:32.0%;"> <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">41-0215170</font></b></p> </td> </tr> <tr> <td width="34%" valign="top" style="padding:0in 0in 0in 0in;width:34.08%;"> <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(State or other jurisdiction of incorporation)</font></p> </td> <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;"> <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;"> </font></p> </td> <td width="29%" valign="top" style="padding:0in 0in 0in 0in;width:29.92%;"> <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Commission File Number)</font></p> </td> <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;"> <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;"> </font></p> </td> <td width="32%" valign="top" style="padding:0in 0in 0in 0in;width:32.0%;"> <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(I.R.S. Employer Identification No.)</font></p> </td> </tr> </table> </div> <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"> </font></p> <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">1000 Nicollet Mall, Minneapolis, Minnesota 55403</font></b></p> <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Address of principal executive offices, including zip code)</font></p> <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"> </font></p> <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(612) 304-6073</font></b></p> <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Registrant’s telephone number, including area code)</font></p> <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"> </font></p> <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</font></p> <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"> </font></p> <p style="margin:0in 0in .0001pt .25in;text-indent:-.25in;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font><font size="1" style="font-size:3.0pt;">            </font><font size="2" style="font-size:10.0pt;">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</font></p> <p style="margin:0in 0in .0001pt .25in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"> </font></p> <p style="margin:0in 0in .0001pt .25in;text-indent:-.25in;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font><font size="1" style="font-size:3.0pt;">            </font><font size="2" style="font-size:10.0pt;">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></p> <p style="margin:0in 0in .0001pt .25in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"> </font></p> <p style="margin:0in 0in .0001pt .25in;text-indent:-.25in;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font><font size="1" style="font-size:3.0pt;">            </font><font size="2" style="font-size:10.0pt;">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</font></p> <p style="margin:0in 0in .0001pt .25in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"> </font></p> <p style="margin:0in 0in .0001pt .25in;text-indent:-.25in;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font><font size="1" style="font-size:3.0pt;">            </font><font size="2" style="font-size:10.0pt;">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</font></p> <p style="margin:0in 0in .0001pt .25in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"> </font></p> <div style="border-bottom:solid windowtext 3.0pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;padding:1.0pt 0in 1.0pt 0in;"> <p style="border:none;margin:0in 0in .0001pt .25in;padding:0in;text-indent:-.25in;"><font size="1" face="Times New Roman" style="font-size:1.0pt;"> </font></p> </div> <p style="margin:0in 0in .0001pt .25in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"> </font></p> <div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div> </div> <!-- SEQ.=1,FOLIO='',FILE='C:\JMS\105201\15-6342-1\task7260874\6342-1-ba.htm',USER='C901901',CD='Mar 7 13:57 2015' --> <br clear="all" style="page-break-before:always;"> <div style="font-family:Times New Roman;"> <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"> </font></p> <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Item 2.05.</font></b><b><font size="1" style="font-size:3.0pt;font-weight:bold;">                    </font></b><b><u><font size="2" style="font-size:10.0pt;font-weight:bold;">Costs Associated with Exit or Disposal Activities</font></u></b><b><font size="2" style="font-size:10.0pt;font-weight:bold;">.</font></b></p> <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"> </font></p> <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">On March 10, 2015, Target Corporation (“Target”) notified approximately 1,700 employees whose employment will be terminated as part of an overall plan to transform Target’s business.  Target expects to incur severance costs of approximately $100 million, all of which are expected to require cash expenditures, which costs will be accrued as a pre-tax charge in Target’s first quarter ending May 2, 2015.</font></p> <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"> </font></p> <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2<a name="PB_2_135108_7056"></a></font></p> <div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div> </div> <!-- SEQ.=1,FOLIO='2',FILE='C:\JMS\105201\15-6342-1\task7260874\6342-1-ba.htm',USER='C901901',CD='Mar 7 13:57 2015' --> <br clear="all" style="page-break-before:always;"> <div> <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"> </font></p> <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">SIGNATURES</font></b></p> <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"> </font></p> <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</font></p> <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"> </font></p> <table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr> <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;"> <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;"> </font></p> </td> <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;"> <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">TARGET CORPORATION</font></p> </td> </tr> <tr> <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;"> <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"> </font></p> </td> <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;"> <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;"> <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"> </font></p> </td> <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;"> <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"> </font></p> </td> </tr> <tr> <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;"> <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Date: March 10, 2015</font></p> </td> <td width="50%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:50.0%;"> <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ John J. Mulligan</font></p> </td> </tr> <tr> <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;"> <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;"> </font></p> </td> <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;"> <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">John J. Mulligan</font></p> </td> </tr> <tr> <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;"> <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;"> </font></p> </td> <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;"> <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Executive Vice President and Chief Financial Officer</font></p> </td> </tr> </table> <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"> </font></p> <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3<a name="PB_3_135220_5335"></a></font></p> <div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div> </div> <!-- SEQ.=1,FOLIO='3',FILE='C:\JMS\105201\15-6342-1\task7260874\6342-1-ba.htm',USER='C901901',CD='Mar 7 13:57 2015' --> </body> </html> </TEXT> </DOCUMENT> </SEC-DOCUMENT>