“There is no doubt that like others, we’re currently benefiting from a very strong consumer environment, perhaps the strongest I’ve seen in my career,” said Brian Cornell, chairman and chief executive officer of Target Corp.
That statement came during a conference call with analysts Wednesday morning after his company posted an unprecedented increase in second-quarter foot traffic of 6.4 percent — the best it’s seen since it started reporting the metric in 2008 — along with the biggest total comparable-store sales increase in the last 13 years of 6.5 percent. Foot traffic and comps, along with second-quarter profit and revenue all topped analysts’ expectations. Digital sales shot ahead more than 40 percent in the quarter ended Aug. 4. Building on that momentum, Target raised its earnings outlook for the full year.
Exclusive: Trademark, the highly acclaimed line by Pookie and Louisa Burch is ceasing operations. Resort 2019 will be the brand’s final collection.
More in our Insta Stories.
Report: @mistywhitesidell 📸: @jgreenery .