Retail

Target CEO says post-holiday shoppers flocked to stores in January

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Target delivered another strong quarter during the pandemic, but even CEO Brian Cornell was caught off guard by what it saw after the holidays.

Store traffic and sales typically slow for retailers after the spree of spending and gift-giving in November and December. Instead, the retail chief said sales picked up at Target in the first few weeks of January.

“January was a really surprising month for me,” Cornell said in an interview with CNBC’s “Squawk Box” on Tuesday. “I think if I do this for another 20 years, we’re unlikely to see January comps grow at a rate of over 30%.”

Cornell said shoppers flocked to stores to redeem gift cards and freshen up their homes, wardrobes and kitchen…



Source cnbc.com

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