The Target store chain has welcomed more customers to its stores in the first months of its fiscal year. They also spent more on average. This resulted in better-than-expected quarterly results for the company. With that, Target did much better than many of its competitors.
Target saw comparable sales increase by 4.8 percent in the measurement period compared to a year earlier. Customer traffic was 4.3 percent higher on an annual basis. Online sales increased by 42 percent. In terms of profit margins, Target was unable to fully meet expectations.
The question that remains is whether Target, just like competitor Walmart, is forced to raise some of its prices in the aftermath of the US-China trade war. Walmart recently announced that some products will become more expensive.
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