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This is Quora question I was asked.

Not including produce, on average Target’s margins in my experience are 25–30%.

I use margins and not markup because in the industry, margins is what is used and they are computed off of suggested retail price (SRP or MSRP). So, for example, using a $9.99 SRP, wholesale cost to Target would be around $7.20, giving them a margin of 27.9%.

If you look at a markup, then it would be 38% in the above example.