Annually, Target's total debt increases. As shown here:
Total Debt 10,037.00 (2008) 9,872.00 (2007) 9,538.00 (2006) 11,018.00 (2005) 11,161.00 (2004) 8,993.00 (2003)

Why is that?

Everything is good about Target financially-wise, however, why does a retail company like Target have debts?

If I was taught corrently, Target is a retail company, thus it does not produce products. So, it should not have debt like Wal-Mart.

Why does it have debt? Is there some excessive of something Target is buying secretly?
oops i meant 2007 and counting down from there

First, I think the debt went down. The high amount for the years you site is $11.161 billion in 2004 and now it's only $10.037 billion. On the other hand, as of Jan. 31, 2007 Wal Mart had $27.22 billion of long-term debt and that doesn't even include short-term debt such as commercial paper and accounts payable. Both Target and Wal Mart are retailers, neither manufactures any product. I can't really tell if you're saying Wal Mart doesn't have any debt or that the comparison isn't valid because Wal Mart is a manufacturer but neither is true. Wal Mart has a ton of debt and ISN'T a manufacturer.

Building and owning those stores is expensive. Since those stores are long-term assets it only makes sense to finance them with long-term debt. Look at the annual report for a more detailed analysis of debt and the uses of debt.