Minneapolis-based Target spent heavily on store remodeling and on backroom operations to improve shipping times, delivery options and faster in-store pickup times. That spending contributed to a 3.3 percent decline in its operating profit.
Same store sales grew 5.1 percent during the third quarter. Digital orders — from people buying from the company's website or various mobile phone apps — contributed to more than a third of that growth.
Overall, online sales jumped 49 percent compared to last quarter. . . . more