A Target store in New York, US, on Monday, March 4, 2024.
Shelby Knowles | Bloomberg | Getty Images
Target will double its bonus payments to salaried employees this year, as the big-box retailer’s profits recover from a bumpy nearly two-year stretch.
Salaried employees at the Minneapolis-based retailer receive an annual bonus, based on Target’s performance and the eligible amount set as part of their compensation. The retailer will pay 100% of employees’ eligible annual bonus amounts for the most recent fiscal year, a company spokesperson said Thursday. That is an increase from 50% in the prior year.
In a statement, Target said the annual bonus payout is based on how the retailer performs against sales and profit goals set at the beginning of the fiscal year.
“Based on Target’s performance in 2023, including the $2 billion in additional profit growth our team delivered that exceeded…
