- Target Corp blew past analyst expectations for quarterly profit and sales on Wednesday as more Americans used the retailer’s quick-delivery services to buy everything from electronics to home goods during the COVID-19 pandemic.
Target, which operates nearly 1,900 stores, has emerged as one of the big winners from the disruption caused by the coronavirus health crisis as investments in its private label and online business, including faster shipments, have paid off. “It’s clear that Target is not only gaining new customers but also retaining them, which will be critical as we move into 2021,” said Gordon Haskett analyst Chuck Grom.
Other categories that performed well in the quarter included home decor, intimates and sleepwear, men’s apparel, food and beverage, toys, and beauty. “We expect this to be a season that’s going to be very different, unlike any other we’ve ever seen. But we expect that guests will decorate their home, and there’ll be gifts under the tree,” Cornell said.
It’s hilarious that their profit shot up, but they can’t afford to give people hours. Target