Retail

Target (TGT) earnings Q4 2020 top estimates

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Target‘s earnings topped Wall Street’s estimates, as its sales got a lift from a strong holiday season and stimulus checks.

Shares are up less than 1% in premarket trading.

The big-box retailer has benefited as shoppers look for easy and safe ways to buy groceries and other items. Its 2020 sales grew by more than $15 billion — greater than its total sales growth over the prior 11 years. 

Target already reported holiday sales, but its online sales gained momentum into January as Americans received $600 stimulus checks.

Still, Target declined to provide a forecast for the year ahead, saying the pandemic has made it too difficult to predict consumer patterns.

Here’s what the company reported…



Source cnbc.com

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