Target Corp. is expanding its private-label food brand Good & Gather with snacks and food for babies and toddlers. This comes after company leadership said during the Q2 earnings call last week that it would continue building its $30 billion portfolio of company-owned brands by expanding existing ones, like Good & Gather, as well as launching new brands.
The Minneapolis-based retailer launched Good & Gather four years ago after it replaced two previous private-label brands (Archer Farms and Simply Balanced). The Good & Gather label was then expanded with a premium line of products in 2020 and then plant-based foods in 2021.
Target also recently launched new lunchbox-sized items ahead of the back-to-school season. The company reported food and beverage generated nearly $23 billion in revenue for Target in 2022 (21% of sales for the year), making it the second biggest segment behind beauty and household essentials.
“At the moment, given where the consumer is spending, we’re, of course, leaning on the strength of our food and beverage portfolio and essentials and beauty, with beauty really being a highlight with double-digit growth, both in Ulta Beauty at Target as well as our core business,” Target Chief Growth Officer Christina Hennginton said during the recent second-quarter earnings call.