Target Shows How a Traditional Retailer Can Make Progress
Shares of big-box retailer Target (NYSE: TGT) rallied after a good second-quarter report delivered to investors on Wednesday. Management had lots of updates to share as the turnaround strategy announced at the beginning of this year looks like it is beginning to yield results.
Target's quarterly sales increased 1.6% year-over-year to $16.4 billion. Driving that revenue growth was a 1.3% comparable-store sales increase, plus a little extra from the handful of the company's new small-format store openings, and a 2.1% increase in store traffic. Digital sales grew 32% and now make up 4.3% of total revenue, continuing Target's good work in playing catch-up to online-only retailers. Digital sales added 1.1 percentage points to the overall comps growth. Check out the table below for details on online sales.
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Source: Fool.com
Target Corp. Stock
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