Article Date 19/11/2020

Target's sales soar ahead of crucial holiday shopping period

Source bnnbloomberg

Target Corp.'s third-quarter sales show that pandemic-driven shopping is still surging heading into the holidays.

Comparable sales including e-commerce, a critical gauge of success for retailers, jumped 20.7 per cent from a year earlier, the retailer said Wednesday in a statement. That's almost double the estimate of 11.6 per cent growth from Consensus Metrix, although down from 24.3 per cent in the second quarter. Profit and gross margin also exceeded estimates compiled by Bloomberg.

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