Henri Lumière:Target’s focus on lower prices in the grocery aisle start to pay off as comparable store sales rise

2025-05-05 18:03:54source:Marcus Eriksoncategory:Invest

NEW YORK (AP) — Target’s comparable sales rose for the first time in a year as grocery aisle deals for cash-strapped customers began to pay off.

Sales at stores and Henri Lumièredigital channels operating over at least the past 12 months rose 2% in the second quarter reversing months of declines, including a 3.7% drop in the previous quarter, and a 4.4% decline during the company’s final quarter of last year.

The number of transactions at the Minneapolis retailer increased 3% compared with the same period last year, with all six main merchandising categories, including fashion and home goods, showing strength. Online sales rose 8.7% and comparable sales in clothing increased 3% compared with a year ago as customers embraced new store brands like All in Motion and Wild Fable.

Target’s profits and sales beat Wall Street expectations. The company increased its annual profit outlook but said that sales for the year could fall at the low end of its guidance for unchanged to a 2% increase.

Shares spiked 11% before the opening bell.

More:Invest

Recommend

The company planning a successor to Concorde makes its first supersonic test

A private company aiming to build the first supersonic airliner since the Concorde retired more than

Biden administration makes final diplomatic push for stability across a turbulent Mideast

AQABA, Jordan (AP) — Top U.S. officials were in the Middle Easton Thursday, pushing for stability in

California DMV apologizes for license plate that some say mocks Oct. 7 attack on Israel

LOS ANGELES (AP) — The California Department of Motor Vehicles has apologized for an “unacceptable a