Wednesday, May 22, 2019

Target smashes profit expectations as e-commerce accelerates

Target Corp. said its profit jumped 9% in the latest quarter, smashing expectations as its investments to make digital shopping easier and more convenient paid off.

Sales at comparable stores and through digital orders from its website and mobile applications grew 4.8%.

Digital sales accounted for a hefty 44% of sales growth — half of which came from shoppers who picked up their online orders at stores that day or who used the retailer's same-day home delivery service, Shipt. . . . more