• September 27, 2010

Target, which has already promised $500 million to promote reading and other educational programs, says it will add another $500 million to the cause, bringing its contribution to $1 billion by 2015.

The Minneapolis-based retailer says the deepened commitment is part of its new Target Read With Me initiative, which hopes to turn more kids into solid readers by the end of third grade. (Research has shown that kids who are proficient readers in third grade are significantly more likely to finish high school, it says.)

Target also says it is encouraging parents, caring adults and its 350,000 team members to pledge to read to a child for 30 minutes a day. It will donate up to two million books to kids in need, tied to the number of reading pledges it receives.