Target's Strong 2020 Run Continued During the Holidays
Target (NYSE: TGT) was one of the biggest retail winners of 2020. Consumers looking to reduce their COVID-19 exposure flocked to its stores as a convenient one-stop shopping option. Target also aggressively promoted its e-commerce business, including newer fulfillment options like curbside pickup and same-day delivery through the company's Shipt subsidiary.
Not surprisingly, Target's strong sales trends continued during November and December. That should drive another big jump in the retailer's earnings this quarter. However, the sustainability of the company's 2020 market share and profitability gains remains unclear.
Last Wednesday, Target reported that comparable sales jumped 17.2% for the November-December holiday period. This marked a very modest slowdown compared to the company's 20.7% comp sales growth in the third quarter.
Source Fool.com
