1/20/2023 0 Comments Tgt i need videoWe note that shares of this Minneapolis, MN-based company have increased 30% in the past six months compared with the industry’s rise of 18.3%. Markedly, the general merchandise retailer raised its comparable sales projection for the final quarter. We note that all five core merchandise categories delivered double-digit comparable sales growth during the reported quarter. Without a doubt, Target has been focusing on store refurbishments, enhancing digital capabilities and expanding same-day fulfillment options, keeping speed and convenience in mind. Moreover, margins remained under pressure during the quarter, thanks to supply-chain bottlenecks and higher freight costs. However, digital comparable sales grew at a lower rate compared with the year-ago period when the pandemic was at its peak and consumers made bulk of their purchases online. The metric gained from strength in both store and digital channels. Comparable sales increased for the 18th successive quarter. Target Corporation TGT continued with its decent performance in third-quarter fiscal 2021, wherein both the top and the bottom line not only surpassed the Zacks Consensus Estimate but also grew year over year.
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