Headlines

Target 1Q Sales Up 23 Percent

Factors including increased vaccinations credited with the bump

Published

3 years ago

May 19, 2021

Target saw its fiscal first-quarter sales rise 23 percent, thanks in part to investments in private label brands and services like curbside pickup, reports CNBC. The retailer also credits rising vaccination rates and a reopening economy for the growth.

“We are seeing a much more optimistic consumer, who is excited about getting back to the life that they haven’t lived for the last year,” CEO Brian Cornell said in a CNBC interview.

As a result, Target boosted its second quarter forecast that exceeds analyst predictions. The retailer reported revenue of $24.2 billion and net income of $2.1 billion.

Jennifer Acevedo

Jennifer Acevedo is the editor-in-chief and associate publisher of VMSD magazine.

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