Retail

Target (TGT) Q1 2021 earnings beat estimates, sales jump 23%

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Target said Wednesday fiscal first-quarter sales rose 23%, as investments it made in exclusive brands and services like curbside pickup strengthened customer loyalty and kept them coming back.

The retailer also said it’s benefiting from a reopening economy and busier social calendars: Customers gravitated to new merchandise, especially clothes.

“Guests right now and consumers are increasingly optimistic and we’re certainly expecting to continue to see strong guest traffic in our stores and visits to our site,” CEO Brian Cornell said on a media call.

Buoyed by this confidence, Target offered a second-quarter forecast that was well above Wall Street’s expectations, despite facing tough…



Source cnbc.com

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