Drawn out, but most likely depends on if you are applying on or off-cycle and from target or not. Received a negative "cut" e-mail from an automated system after second stage, but was contacted after saying thank you and asking for feedback from the HR rep, saying it was a mistake and they would like to move forward with a final interview. Final interview on a Friday, heard back with offer on Monday.
3 stage interview:
First Stage: Resume phone call screen
Call with HR associate in order to go over the position, possible locations, and my personal fit with the position. Asked certain questions about my resume, and if I think I'd be a good fit for different responsibilities. Not an interview really, just a screening stage.
Second Stage: First round interview and case
My first round interview was over the phone and internet, since I did not apply from a target school and applied off-cycle. Interview was standard behavioral questions for business positions. The case interview was over web-ex, which I would recommend ensuring is installed correctly before hand, as interviewers are generally on a very tight schedule. Case was standard marketing/sales questions, with a market sizing question and chart analysis section (given several charts with data and asked to give high-level takeaways and insights into the chart).
Final Stage: Final round interviews
Full day at the office which I chose through the process. consisted of two behavioral, a brain teaser case section, an in-depth case worksheet and subsequent presentation with a manager, and a demo of typical project work. standard behavioral with a principal, which was great to have such a high-level contact. Brain teaser was fun and friendly, dealt with "what steps would you take in deciding where to open up a new Home Depot?" In depth case was 10 pages of 5 different questions, with quick math, market sizing breakdowns, chart reviews, and finally choosing where slaespeople should go based on a company's selection criteria and the salespeople's stats. Difficult, but not impossible if you work quickly and think about high level answers. I did not finish the case fully, but still received an offer.