By  on November 20, 2019

Target Corp.’s third-quarter results Wednesday showed strength across the business, from the top line to the bottom. The retailer smashed analysts’ expectations for several metrics and raised its profit outlook for the full year. The performance was attributed to the optimized brand assortment, store remodels, rollout of shipping capabilities and rapid expansion of small-format stores.

The news bodes well for Target’s performance during the cutthroat holiday season and is further evidence of the strength of the discount channel following equally strong results from Walmart Inc. and TJX Cos. Inc., while department stores including J.C. Penney Co Inc. and Kohl’s Corp. had weak quarterly results. The Minneapolis-based retailer said last month it will spend $50 million on additional payroll to staff its stores during the season.

To continue reading this article...