Target extends streak even as online sales growth cools
NEW YORK (AP) — Target’s streak of strong results extended into its latest quarter but its skyrocketing online sales growth has come back to earth.
The Minneapolis-based retailer reported Wednesday that sales at its stores that have been open for at least a year rose 8.7% in the three-month period that ended July 31.
That was down from 10.9% growth in the same 2020 span. And like Walmart, Target saw a slowdown from last year’s blistering online sales growth as more shoppers came out of their pandemic-forced isolation and went back to stores.
The company offered an upbeat sales outlook for the remainder of the year.