With more Shoppers returning to its brick-and-mortar stores and ringing up purchases on Target.com, the discount retailer raised its outlook for 2017, as signs appeared that its turnaround efforts are making progress.
While our recent results are encouraging, we will continue to plan prudently as we invest in building our brands, our digital channel, the value we provide our guests and elevating service levels in our stores."
Sales from Target stores open more than 12 months rose a better-than-expected 1.3 percent, following a year of declines and amid growing skepticism about the retailer's turnaround efforts.
The retailer hopes that by rolling out 12 original brands over the next two years — building on the success of its Cat & Jack children's line — this will drive more shoppers back to stores.
The company also said it's expanding Target Restock — a next-day delivery service similar to Amazon's Prime Pantry — to more cities, and is testing a "drive up" program that brings purchases right to shoppers' cars.
- Target pulls out of yearlong sales slump with higher store traffic, online ...Minneapolis Star Tribune
- Target sees sales growth as it plans store refreshMarketWatch
- Soaring digital sales drive Target during second quarterSTLtoday.com
- Target tops Street 2Q forecastsOlean Times Herald