{"id":49585,"date":"2020-08-19T15:32:00","date_gmt":"2020-08-19T12:32:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/target-sees-record-sales-amid-coronavirus-online-shopping-boom\/"},"modified":"2020-08-19T15:32:00","modified_gmt":"2020-08-19T12:32:00","slug":"target-sees-record-sales-amid-coronavirus-online-shopping-boom","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/target-sees-record-sales-amid-coronavirus-online-shopping-boom\/","title":{"rendered":"#Target sees record sales amid coronavirus online shopping boom"},"content":{"rendered":"

“#Target sees record sales amid coronavirus online shopping boom<\/strong>”<\/p>\n

\n
\n
\n

August 19, 2020 |<\/span> 8:32am <\/p>\n

\n Target hit a bullseye in the second quarter as an explosion of online shopping led the department store giant to record sales growth.<\/p>\n

The Minneapolis-based chain on Wednesday reported a 24.3 percent spike in comparable sales for the three months ending Aug. 1 \u2014 its biggest quarterly increase on record \u2014 driven by a massive 195 percent surge in digital comparable sales.<\/p>\n

The sales helped Target\u2019s total revenues grow 24.7 percent from the year-earlier quarter to nearly $23 billion while earnings per share climbed 84.4 percent to $3.35, blowing out Wall Street\u2019s estimates for $19.8 billion in revenue and earnings of roughly $1.60 per share, according to Bloomberg data.<\/p>\n

Target said its stores played a key role in its blowout quarter, fulfilling more than 90 percent of the total sales \u2014 even as consumers showed a strong preference for alternatives to in-store shopping amid the coronavirus pandemic.<\/p>\n

The company pointed to its 273 percent growth in services that let customers pick up online orders at a store or have them delivered the same day, which accounted for about a quarter of the sales growth.<\/p>\n

\u201cWe remain steadfast in our focus on investing in a safe and convenient shopping experience for our guests, and their trust has resulted in market share gains of $5 billion in the first six months of the year,\u201d Target chairman and CEO Brian Cornell said in a statement.<\/p>\n

The numbers sent Target shares soaring about 6.8 percent in premarket trading to $146.21 as of 7:19 a.m.<\/p>\n

Target also saw its cost of sales jump 24.1 percent and its selling, general<\/a> and administrative expenses rise 14 percent amid higher compensation costs, such as its July move to a $15 starting wage. But the strong sales growth and other factors more than offset those bills, according to the company.<\/p>\n

Other big-box retailers have benefitted during the COVID-19 pandemic, which has shut consumers in their homes and forced many smaller merchants to close or scale back their operations.<\/p>\n

Hardware store giant Lowe\u2019s reported a 34.2 percent jump in its second-quarter comparable sales on Wednesday, a day after Walmart revealed its online sales spiked 97 percent in the three months ending July 31.\n <\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n

\n

If you want to read more Business News<\/a> articles, you can visit our General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n

\n

if you want to watch Movies<\/a> or Tv Shows go to Dizi.BuradaBiliyorum.Com<\/a> <\/span> for forums sites go to Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n

Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“#Target sees record sales amid coronavirus online shopping boom” August 19, 2020 | 8:32am Target hit a bullseye in the second quarter as an explosion of online shopping led the department store giant to record sales growth. The Minneapolis-based chain on Wednesday reported a 24.3 percent spike in comparable sales for the three months ending…<\/p>\n","protected":false},"author":1,"featured_media":49586,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[55505],"class_list":["post-49585","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-target-sees-record-sales-amid-coronavirus-online-shopping-boom"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/49585","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=49585"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/49585\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/49586"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=49585"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=49585"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=49585"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}