NEW YORK (AP) — Target is the latest big U.S. discount retailer to show that it’s prospering during the pandemic.
The Minneapolis-based discounter reported Wednesday that its online sales surged 155% in the three months that ended Oct. 31.
Sales at its stores opened for a least a year were up 10%. Customer traffic rose 4.5% and average dollars spent rose nearly 16%.
It joined Walmart and Home Depot in reporting strong sales for the retailers’ fiscal third quarter as shoppers consolidate their trips and focus on home-related activities.
The strong figures should bode well for the holiday shopping season, while offering the latest evidence of a widening gap between the discounters and big box stores and mall-based retailers.
