Higher Prices Help Target Boost Earnings in Q4
Thanks to a mid-quarter update, investors already knew that Target (NYSE: TGT) would report blockbuster sales to close out its fiscal 2020. The retailer didn't disappoint, reporting on March 2 that revenue spiked over 20% year over year thanks to booming customer traffic and higher spending per visit.
The chain posted sharply higher profits too as spending tilted toward higher-margin merchandise in the home goods and furnishings segments. And while management declined to issue a detailed outlook for the year ahead, Target entered fiscal 2021 with its strongest momentum in recent memory.
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Source Fool.com
