Target generated $109 billion in revenue in 2022, compared to $106 billion in 2021 and over $93.5 billion in 2020.
While Target’s revenue has grown to $109 billion by 2022, its profits fluctuated, going from nearly $7 billion in 2021 to less than $3 billion in 2022.
The company makes money primarily via its stores, while Target has also been ramping up its digital presence, which moved from $6.8 billion in revenue in 2019 to nearly $20 billion in 2022.
In that context, the store/physical channel is still the primary one, with over 81% of its revenue generated in 2022.
Yet, the digital distribution channel has grown in importance, moving from 7.1% of revenue in 2019 to over 18% in 2022.
Target Sales By Product Category
Walmart Organizational Structure
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