Bloomberg News

Target’s Online President Departs Following Website Crash

October 13, 2011

(Updates with website history in third paragraph.)

Oct. 13 (Bloomberg) -- Target Corp., the second-largest U.S. discount retailer, said online president Steve Eastman has left the company, one month after the retailer’s website crashed from overwhelming demand for new designer apparel.

Eastman, 47, left the company to “pursue other opportunities,” the company said today in a statement. Target did not name a replacement in the press release.

The Target.com executive’s departure comes two months after the retailer took control of its e-commerce site from Amazon.com Inc. The day the revamped site went live, links such as “learn all about what’s new” didn’t work. On Sept. 13, the online store crashed when demand for products from the Italian fashion house Missoni exceeded expectations.

Eastman joined Minneapolis-based Target in 1982 and was named head of the online unit in 2008, Amy Reilly, a company spokeswoman, said in a telephone interview.

Target generates about 2 percent of its $67.4 billion revenue online.

The retailer’s shares fell 0.04 percent to close at $52.73 in New York. The shares have declined 12 percent this year.

--Editors: Niamh Ring, Donna Alvarado

To contact the reporter on this story: Matthew Boyle in New York at mboyle20@bloomberg.net

To contact the editor responsible for this story: Robin Ajello at rajello@bloomberg.net


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