From what I saw in my days there it was always external hires.The route for "moving up" at Target seems to be TM to TL, or at least a PG45 role. Are there any other ways of moving up that don't involve a leadership position?
My speculation on the matter is that internal promotion would come with empathy for those on lower rank because you've been where they've been. Therefore, Target would prefer individuals who have not had to endure what others have and therefore be much harder on them.
Sad and weird but true. Retail is NOT a kind business :-(