I was at Target returning a duplicate Christmas item with no receipt. We got $7 for the item, since that was it's lowest price. It's value was $12. We were told that we can only return 2 items in one year without a receipt.
This doesn't make a wedding registry at Target very intriguing.
Also, here is the link to their return policy.
Online Return & Exchange Policy for Purchases & Gifts : Returning Online Purchases & Gifts : Returning : Target