Target Posts Double-Digit Profitability; Can It Last?
Investors had high expectations for Target's (NYSE: TGT) second-quarter earnings report, especially after rival Walmart (NYSE: WMT) reported its own blockbuster growth numbers for the period. The two national retailers have been benefiting from enthusiastic consumer demand for their multichannel selling platforms that allow near-immediate fulfillment on products ranging from groceries to apparel to home electronics.
On Wednesday, Target confirmed that the fiscal second quarter was a period of unusually strong growth, as fiscal stimulus payments supported record sales gains. Management made the case that this spike was about more than just a one-time sales boost, though, as illustrated by the retailer's improving market share.
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Source Fool.com
