Target same-store sales rose 17.2% in Nov/Dec holiday period, boosted by strong digital sales

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Target Corp. said Wednesday same-store sales rose 17.2% during the November/December holiday period, as traffic increased by 4.3% and average ticket rose 12.4%. Store-originated same-store sales rose 4.2%, while comparable digital sales rose 102%. Chief Executive Brian Cornell said strong sales trends continued into the new year. “Comparable digital sales growth was driven primarily by the Company’s same-day fulfillment services (Order Pick Up, Drive Up and Shipt), which together grew 193 percent,” the company said in a statement. “Of the services, Drive Up grew the fastest at more than 500 percent, while Target’s sales fulfilled by Shipt grew more than 300 percent. ” Target said it grew market share in all five of its core categories of home, hardlines, electronics, food and beverage, beauty and essentials and apparel. Shares were slightly higher premarket, and have gained 61% in the last 12 months, while the S&P 500 has gained 16%.
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