Headlines

Target’s 8.9 Percent Comparable Sales Growth Attributed to Traffic

Store comparable sales were also up by 8.7 percent

Published

3 years ago

August 18, 2021

VMSD Staff

Target’s 8.9 Percent Comparable Sales Growth Attributed to Traffic — Target | Photography: Edward Feldman, Minneapolis

Target | Photography: Edward Feldman, Minneapolis

Target (Minneapolis) has released its second quarter earnings, according to a company press release.

The mass merchant revealed its second quarter comparable sales grew by 8.9 percent, which they say was driven entirely by customer traffic. Store comparable sales also saw growth by 8.7 percent and digital comparable sales grew by 10 percent. Digital sales have been continuing to increase, the company says, due to its same-day services like order pick-up/drive-up and Shipt. Its total revenue of $25.2 billion grew by 9.5 percent compared to last year.

“In the second quarter, our business generated continued growth on top of record increases a year ago, reinforcing Target’s leadership position in retail. We’ve spent years building and investing in the durable model we have today, which is supported by a differentiated strategy and the best team in retail,” says Brian Cornell, Chair and CEO of Target.

VMSD Staff

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