Most of the retail executive’s pay came in the form of $12.3 million in stock awards and $4.5 million in incentive pay.
The retailer plans to accelerate the pace of new store openings, update fulfillment capabilities and add more local distribution centers.
The milestone marks Target’s 10th billion-dollar owned brand.
Meanwhile, the big-box retailer continues to grow its bottom line, despite an increasingly challenging retail environment.
Target also revealed holiday sales were boosted by online shopping.
But across the retail industry, intimate apparel continues to be among the list of pandemic winners.
Select Journelle bras, sleepwear and lingerie can now be found at target.com.
Comparable traffic grew 4.5 percent during the quarter, while digital sales surged 155 percent.
Target’s minimum wage will soon be $15 an hour, while Juneteenth becomes a company holiday.
Ceo Brian Cornell told the annual shareholders meeting that the retailer will seek to bring more people of color into its business.