1 Big Way Target's Business Is Getting More Valuable

Target (NYSE: TGT) shareholders had been expecting to see significant first-quarter sales growth, especially after rival Walmart (NYSE: WMT) announced a record expansion pace during the early phase of the COVID-19 pandemic.

Target followed up that report with some records of its own, including an 11% spike in comparable-store sales. And, while the retailer's profitability took a big hit as shoppers shifted spending toward essentials, that trade-off looks like a long-term win for the business.

Image source: Getty Images.

Source Fool.com