Target Q2 Comparable Store Sales +2%, Digital Comparable Sales +8.7%
Portfolio Pulse from Benzinga Newsdesk
Target's Q2 results show a 2% increase in comparable store sales and an 8.7% rise in digital sales, with traffic up 3%. All core categories saw growth, and discretionary sales improved, notably in Apparel.
August 21, 2024 | 10:32 am
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Target reported a 2% increase in Q2 comparable store sales and an 8.7% rise in digital sales, with overall traffic up 3%. Apparel sales grew over 3%, indicating strong performance across categories.
Target's Q2 results exceeded expectations with strong growth in both physical and digital sales. The increase in traffic and discretionary sales, particularly in Apparel, suggests positive consumer sentiment and effective merchandising strategies. This is likely to positively impact Target's stock price in the short term.
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IMPORTANCE 80
RELEVANCE 100