Wednesday, November 20, 2019

High-flying Target raises forecast going into holidays

Target's third-quarter results — including a 4.5% increase in comparable sales — showed that its investments in new brands and faster delivery seem to be paying off at a time when other retailers, such as department stores, continue to struggle.

Most notably, Target said apparel sales, which have been soft industrywide, rose more than 10% in the quarter, helping to not only boost overall sales but also to increase its profits since clothing tends to have higher margins. Executives noted the retailer also sold more apparel at regular price without having to discount it.. . . more