Registering a solid +6.5% growth in sales at stores open for at least a year, Target Corporation reaffirmed its strength against the online retail boom. The latest quarter’s growth is the highest in 13 years, and one of the reasons apparently is strong consumer sentiment - as also hinted by Target’s CEO Brian Cornell. The retail company raised its projection for the rest of the year as well.
Its digital presence, too, had a strong following among customers: online sales increased 41% last quarter compared to the year-ago period. Last year, the company bought delivery service firm Shipt to boost same-day delivery speeds.
Expanding its offerings on clothing, electronics and kids’ toys might also have helped Target garner more customers and sales.