Recently, Cornell announced that Target will be adding inventory in swarms ahead of the holiday season to minimize the chance of inventory running out. In the second quarter, the company’s inventories increased $2.5 billion YoY. The trend is expected to continue as Target adds 100 Disney Store locations by the end of the year.
Right now, Cornell’s net worth is estimated at $67.9 million, and about half of that is tied up in TGT stock. Cornell has already capitalized on some of his Target holdings over the years by selling shares for liquidity. Reports suggest that Cornell has sold about $15 million in Target shares during his tenure so far. The number is expected to increase as Cornell nears retirement. Granted, he’s already 63 years old and shows no signs of slowing down as of yet.
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