thanks to greater sales of its in-house apparel and home brands, and private-label food options, giving the big-box retailer a boost. Target is hoping to see more of the same results.The firm said it believed Target was beyond its "peak margin pain," as it's been making investments in its stores, website and supply chain, which have eaten into profits in the near term.
"Now, there are signs Target's shipping related deleverage is narrowing, particularly as it invests in fulfillment options .. which promote higher traffic and reduce costs," Morgan Stanley said.the launch of its limited-edition line with preppy apparel and accessories brand Vineyard Vines. When items hit stores this past weekend, throngs of shoppers showed up ahead of opening hours. Target has used similar collaborations in the past to drive traffic.
As of Tuesday's market close, Target shares are up about 9% for the year, bringing its market cap to approximately $37.1 billion. Walmart shares are up about 8.5% so far this year.
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