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Target Books Another Sales Surge

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Target Books Another Sales Surge

< img src= "https://images.wsj.net/im-339587/social" class= "ff-og-image-inserted"/ > Target Corp. reported robust quarterly sales and a jump in store sees, an indication the retailer continues to get market share even as consumer purchasing habits alter during the pandemic.

Similar sales, those from stores and digital channels operating for a minimum of 12 months, rose 23% in the quarter ended Might 1 compared to the exact same period last year. The sales development rate was twice as high as the same quarter last year when individuals rushed to purchase food and home staples early in the pandemic.

Larger competing Walmart Inc. reported equivalent sales rose 6% in its latest quarter, a slightly slower development rate than the same duration in 2015. Walmart executives stated sales took advantage of government stimulus checks and pent up consumer demand.

Target scheduled gains across categories, but its results revealed indications of new purchasing behavior as more individuals ventured out or hosted social occasions. Apparel sales rose more than 60%, Target stated, and sales of house products and hardlines, such as appliances, rose more than 30%. Sales of food and house basics, huge winners last year, increased a few portion points.

Overall sales through digital channels increased 50% in the most recent quarter, a slowdown from the exact same duration in 2015 when sales grew 141%. Shop visits increased 17%, year over year.

Published at Wed, 19 May 2021 10:35:00 +0000

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