Target Corp forecast full-year adjusted profit above Wall Street estimates on Tuesday and posted better-than-expected holiday quarter results, driven by strong digital sales and higher customer footfall at its stores.Target has been investing heavily in its digital business to compete with online behemoth Amazon.com Inc and brick-and-mortar rivals like Walmart Inc. Online sales grew 31 per cent in the quarter.Its comparable sales, that include both in-store and digital sales, rose 5.
Online contributed 2.4 percentage points to these sales, while the retailer also recorded market share gains across all five of its core merchandise categories that include home and apparel. The company forecast 2019 adjusted profit between $5.75 and $6.05 per share, above analysts expectations of $5.61 per share. The company’s total revenue fell marginally to $22.98-billion in the quarter ended Feb. 2, edging past analysts estimate of $22.96-billion.
globebusiness Oh, is that the same Target that ripped off Canadian tax dollars and then closed all their stores in Canada because they couldn’t sell their crap here in Canada? Targetsucks
globebusiness And for some Corporate Canadian News.