Global superstar Taylor Swift is set to begin the final leg of her record-breaking “The Eras Tour” soon, and retailer Target Corporation (NYSE:TGT) could be the latest company to benefit from the singer’s massive following and fan base.
What Happened: Swift announced Tuesday morning that she is launching two new products exclusively in Target stores. The items will be released on Nov. 29, which happens to be Black Friday this year.
“This tour has been the most wondrous experience and I knew I wanted to commemorate the memories we made together in a special way. Well, two ways actually,” Swift tweeted.
The singer is releasing “The Official Eras Tour Book” and “The Tortured Poets Department: The Anthology” on CD and vinyl on Nov. 29, exclusively at Target.
“Only at Target,” Swift said in a video shared with her more than 95 million followers on Twitter. The post was also shared on Instagram where Swift has more than 280 million followers.
Swift said the new album will contain 35 tracks, and the image showed four CDs containing the long list of songs. The record will sell for $59.99, and the CD will sell for $17.99, as reported by Variety. The anthology album was previously available as a 31-song digital release, with four acoustic bonus tracks added, and the physical disc form was available for the first time.
The singer said the tour book contains over 500 pictures from the tour, including never-before-seen behind-the-scenes images. According to the report, the book will sell for $39.99.
Swift has eighteen dates left on “The Eras Tour,” beginning with a stop in Miami this weekend for nine shows in the U.S. before heading to Canada for nine shows, with the tour ending on Dec. 8.
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Why It’s Important: The book, CD, and vinyl will exclusively be sold in North American Target stores on Black Friday and will be available for online sale on Nov. 30. Swift said international details will follow.
Target is one of many retailers offering discounted merchandise on Black Friday to appeal to holiday shopping consumers. With the new Swift merchandise, the retailer could see an extra boost in demand on this typically busy day.
Target had Circle Week from Oct. 6 to Oct. 12, offering seven days of deals with discounts of up to 50%.
The multiple sale days and weeks and the Swift exclusives could create a strong fourth quarter for Target. During its second-quarter earnings report, the company raised its full-year earnings per share guidance and showed optimism for the second half of the year.
Swift has been known to boost the share prices of some public companies and has been mentioned in earnings reports and earnings calls. Live Nation, The Walt Disney Company, AMC Entertainment, and airlines are among the companies that have noticed a boost from Swift.
The new album release could also serve as a proving point for the singer after endorsing Kamala Harris for president in the 2024 election. Donald Trump brushed off Swift’s endorsement of Harris in the election and predicted it would hurt the singer’s future album sales.
First released on April 19, 2024, “The Tortured Poets” has been one of Swift’s record-breaking albums, spending 15 non-consecutive weeks at number one on the Billboard 200 album chart. This marked a career-high for Swift, placing the album among the few to achieve this milestone.
The “Anthology” version of the 2024 album could help the record top the charts again. Republic Records, which is owned by Universal Music Group (OTC:UMGNF), could also benefit from the release of the new anthology album.
TGT Price Action: Target stock is up 1.9% to $161.04 on Tuesday, versus a 52-week trading range of $105.23 to $181.86. Target stock is up 10.4% year-to-date in 2024.
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