Earnings

Holiday 2020 Target’s same-store sales jump 17%, online sales double

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Target said Wednesday comparable sales rose 17.2% in November and December, as customers bought matching pajamas and gingerbread house kits to celebrate a cozy holiday at home during the pandemic.

While online sales remained robust, shoppers also visited Target’s stores and spent more money per purchase than they did last holiday season. Combined transactions in Target stores and on its website rose 4.3% and average tickets grew by 12.3% year over year, the company said.

Target shares, which have a market value of about $100 billion, were recently trading down about 1% on Wednesday morning. Earlier, shares were higher, and touched an all-time high of $199.96. The stock has gained nearly…



Source cnbc.com

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