How many employees does Target have? Team members by year from its 10-K

This page is for sellers sizing Target as an account, analysts comparing retailers, and anyone who needs a citable headcount. Every figure comes from Target Corporation's annual report on Form 10-K. One thing trips people up: Target names its fiscal year for the calendar year in which it starts. Its fiscal 2025 ran from February 2, 2025 to January 31, 2026 (Walmart would call the same period fiscal 2026).

Target employees by year

All figures are Target's own rounded numbers ("approximately"). Fiscal 2023 had 53 weeks, which is why it ended as late as February 3.

What the number includes

The fiscal 2025 10-K says: "As of January 31, 2026, we employed approximately 415,000 full-time, part-time, and seasonal team members. Because of the seasonal nature of the retail business, employment levels peak in the holiday season. We also engage independent contractors, most notably in our Shipt subsidiary."

• Part-time and seasonal staff count. Target doesn't split the total by status, but its risk factors say "many team members are in entry-level or part-time positions with high turnover rates historically."
• Contractors don't count. The filing separates employees from the independent contractors it engages, most notably at Shipt, its delivery subsidiary. Its risk factors describe the labor Target needs as a mix of "team members, contractors, and temporary staffing."
• It's a post-holiday snapshot. The count is taken at fiscal year-end in late January or early February, after the holiday peak, so it understates Target's busiest-season workforce. The 10-K doesn't give the peak.
• It's mostly a US workforce. Nearly all sales come from the US, and US hourly team members in stores and supply chain facilities "comprise the vast majority of our team", with a starting wage range of $15 to $24 an hour. Target also performs administrative functions in Bangalore, India, and runs global sourcing from offices in 13 countries. It doesn't publish a US-only headcount.

Before fiscal 2020, the 10-K used slightly different words for the same scope: "full-time, part-time and seasonal employees, referred to as 'team members.'"

What changed and why

• Fiscal 2020 and 2021: up 82,000 in two years. The headcount rose from about 368,000 to about 450,000. The 10-Ks don't attribute the rise to a hiring program, but they report the demand behind it: total revenue grew 19.8% in fiscal 2020, with comparable sales up 19.3%, and another 13.3% in fiscal 2021. In 2020 Target says it "invested more than $1 billion in the well-being, health, and safety" of team members and guests.
• Fiscal 2022 to 2025: between 415,000 and 440,000. The count has alternated between those two figures for four years. The filings give no reason. The count includes seasonal team members and its date moves between January 28 and February 3, so read the four years as a range, not a trend.
• Fiscal 2025: a headquarters cut. Target announced a multi-year initiative in May 2025 "to transform various aspects of our business, including our organizational structure, processes, and technology." Its 10-Q for the quarter ended November 1, 2025 says: "In October 2025, we reduced our headquarters workforce." The 10-K records $129 million of severance and related costs in 2025, "primarily related to our headquarters workforce reduction", within $250 million of business transformation costs. Neither filing gives the number of roles, so we don't either. Net Sales fell 1.7% that year, to $104.8 billion.

Revenue per employee

For fiscal 2025: $104,780 million divided by 415,000 is about $252,500. Net Sales includes $915 million of advertising revenue from Target's Roundel business and $522 million of credit card profit sharing, as well as merchandise sales. Because the headcount includes seasonal staff counted after the holidays, compare the trend across years rather than the level against other retailers.

Target reports one segment, so there's no split of team members by business. It operated 1,995 stores at January 31, 2026, and says stores fulfilled more than 97% of merchandise sales in each of the last three years, which is why most of its workforce sits in stores rather than in separate fulfillment centers.

Selling to a company of Target's size

General guidance, not a description of Target's internal process.

A retailer with about 415,000 people, 1,995 stores and one reporting segment buys centrally but deploys locally. Decisions about store technology, supply chain, merchandising tools or team member programs are usually made by a corporate function at headquarters and then rolled out across stores.

• Find the function, then the program. The 10-K names priorities a vendor can attach to: AI tools across "merchandising, planning, inventory management, and personalization", same-day fulfillment from stores, and the transformation of "organizational structure, processes, and technology."
• Price per store and per team member. With the workforce concentrated in hourly store and supply chain roles, tools for scheduling, training, safety and communication are judged on store-level cost and adoption.
• Expect a pilot. A test in a set of stores or one distribution center, with security and data reviews first, is the normal path to a chain-wide rollout.
• Time it to the calendar. Retailers protect the holiday season. Pilots and rollouts tend to be planned outside it.

For a full research routine, see how to research an account, then how to find decision makers to reach the owner. For peers, compare Walmart's headcount and the largest retailers.

How to check the number yourself

Open Target's latest 10-K on SEC EDGAR and find "Human Capital Management" in Item 1. The headcount and its date are in the second paragraph. The 10-K arrives each March; quarterly 10-Qs don't update the count.

Next step: see how Target compares with other large employers on our list of the largest employers in the US.