For Target, Pandemic Shopping Patterns Offer a Glimpse at Retail's Near Future

Target (NYSE: TGT) last week announced positive earnings results for its fiscal first quarter, which ended May 2, and reveals that it had gained market share as the COVID-19 pandemic struck the United States. Customers first turned to its stores to stock up on staple food and grocery products, then ramped up spending in discretionary areas like electronics and home furnishings in late April.

The company benefited from its wide catalog of merchandise and its robust digital fulfillment network during a period when many of its more-focused rivals' stores were closed due to their status as non-essential retailers. Yet in the conference call with analysts, CEO Brian Cornell and his team told investors that they expect an enduring increase in sales that's directly tied to Target's execution through the pandemic.

Let's take a look at some highlights from that call.

Source Fool.com