Target CorporationTGT
▲ PositiveDemandrelevance
Target reports strong sales growth and plans more price cuts, indicating robust consumer demand.
Impact on stocks 1
Consumer Staples
Target CorporationTarget reported second-quarter net sales grew 5.3% to $26.5 billion, with comparable sales up 3.8% and comparable traffic up 3.6%. The retailer said it has already lowered prices on more than 10,000 items over the past 12 months and plans additional price reductions this year. CEO Michael Fiddelke said the results build on first-quarter momentum and increase confidence in the strategy. Target also plans to introduce Target Beauty Studio in more than 600 stores later this quarter.
Target CorporationTarget reports strong sales growth and plans more price cuts, indicating robust consumer demand.