Target news 

Off the back of a disappointing set of quarterly results, we explore what’s been driving Target’s recent performance. We also uncover the latest updates in the retailers’ strategy. Key numbers Q2 total revenue down 4.9% to $24.8 bn Second quarter comparable sales declined 5.4%, reflecting a 4.8% decline in traffic Digital comparable sales declined by 10.5% Operating income margi...

Amazon said July 11, the first day of Prime Day, was the largest sales day ever on Amazon, as well as being the biggest Prime Day on record for its independent retailers. Here we explore how this was achieved and how retailers in the US responded. Amazon Fresh was a target throughout Prime Day Unsurprisingly Amazon Fresh was a strong focus for Prime Day, with discounts being offered even be...

Target’s Q1 results highlighted a softening of sales in discretionary categories, offset by stronger grocery and beauty sales, as consumers continue to spend more cautiously. The retailer outlined its strategy to overcome these challenges in the months ahead, with a clear focus on offering its customers affordable joy.   Q1 Key numbers Total revenue of US$25.3 bn grew 0.6% versus Q1 22, ...

We look at Target’s latest results and its strategic update which included details of how it plans to sustain growth, rebuild profitability and strengthen the business. Key numbers Q4 total revenue up 1.3% to $31.4 bn, driven by sales growth of 1.2% and an 8.4% increase in other revenue Fourth quarter comparable sales increased 0.7%, reflecting comparable stores sales growth of 1.9% and...

Target’s third quarter results highlight the financial pressures US consumers are under and the trade-offs many are making to manage their household budgets. Against a backdrop of slowing sales growth and declining profitability, we look at the actions the retailer’s taking heading into the holiday period and beyond. Q3 key numbers Total revenue increased 3.4% to $26.5 bn Comparable s...

Target has unveiled a new look for the largest stores in its network, optimising additional space and incorporating new design elements. New space opportunity Over recent years, smaller formats have been the main focus of its format development plans. It has grown its network of stores of around 30,000 sq ft to over 100. Over the last two years, it also identified a new opportunity with sto...

In June, Target updated its guidance for its Q2 results, expecting its operating margin to be in the range of around 2%. Actual results came in lower than this, highlighting the challenge it has faced on inventory. We take a look at how the retailer performed across the quarter. Second quarter key numbers Total revenue increased 3.5% to $26.0 bn Comparable sales increased 2.6%, wi...

With the business impacted by global supply chain issues, Target is taking several actions to right-size its inventory, reduce costs and protect profitability in the second half of the year. Wrong place, wrong time This is the hangover from the COVID-19 pandemic which resulted in significant supply chain challenges at the end of last year. High demand on global freight lines, plus factory c...

Mirroring Walmart’s first quarter results, Target delivered a solid sales performance in Q1, but profitability came in below expectations. Having been one of the stars of retail through the pandemic, we look at what this could mean for the wider industry. First quarter key numbers Total revenue increased 4.0% to $25.2bn Operating income decreased 43.3% to $1.3bn Comparable sales up...

Having started to build out a network of smaller format stores in 2015, Target has recently set its sights on reigniting its larger format store development pipeline. This includes developing a new mid-sized format. Recent focus has been on smaller format stores Target opened its first smaller format store, operating originally under the TargetExpress banner in 2014. Over the last eight yea...