VIDEO REPORT: Target Reports Its Best Year in More Than a Decade
Wednesday, March 06, 2019
GoLocalWorcester Business Team
While most retailers are facing Armageddon, Target is reporting its best performance in a decade.
"As Americans do more of their shopping online, both retailers have been opening smaller stores and offering easier ways to pick up internet orders. They have also captured business as some traditional rivals close locations," writes the Wall Street Journal on Tuesday.
For the quarter that ended on February 2, 2019, comparable sales increased 5.3%, boosted by a 31% jump in online orders.
“It’s clear our strategy is working,” said Chief Executive Brian Cornell in an investor meeting on Tuesday. He said Target expects to increase traffic and grab more share in 2019.