," CEO Brian Cornell said the company saw "a surge in traffic in our stores" and growth across all merchandise categories, from electronics to beauty, in January. He said some shoppers redeemed gift cards and others sought new items to freshen up their homes or wardrobes.
In the latest period, net income rose 66% to $1.38 billion, or $2.73 per share, from $834 million, or $1.63 per share a year earlier. Excluding items, Target earned $2.67 per share, more than the $2.54 per share expected by analysts surveyed by Refinitiv. Customers shopped more frequently with Target and bought more when they did during the holiday quarter. Combined traffic online and in stores grew 6.5% and the average ticket increased by 13.1% compared with a year earlier, the company said.
Somebody please comment how much Target pays their employees
Good for you. Now pay your employees $25/hour
And yet the stock got murdered. Ominous sign for the market.
The big corporations stuffed their pockets during the pandemic! Time to let the small businesses open up full capacity!!
'it's astonishing what can be accomplished when small businesses are taken out of the equation!'
good
I'm sure their employees reaped no benefits from it.
Well, that's great. My question is: How is Target compensating its employees for the success? The bottom line is not the profit, the bottom line are the workers that create this kind of success.
Target did a really good job with the pandemic. We experienced their efforts in both Florida and MidCoast Maine.
That’s one great way to make their stock utterly crash. 😂
While small biz was forced to shut down completely. If this doesn't bother you, you have no soul.
Not very different than the last pandemic period
Makes sense since all the small stores were shut down. Weird how this virus somehow only helped all the right people
larryvc Can't imagine why profits skyrocketed when all other business were forced to close but they were allowed to stay open. Who'd a thunk it?
larryvc wow