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

2025-05-02 18:59:35source:Devin Grosvenorcategory:Scams

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 CapitalVaultdigital 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:Scams

Recommend

McKinsey to pay $650 million after advising opioid maker on how to 'turbocharge' sales

Global consulting firm McKinsey & Company agreed Friday to pay $650 million to resolve criminal

A college closes every week. How to know if yours is in danger of shutting down.

As if finding a suitable, affordable college isn’t hard enough, students must also find one that isn

For Canada, anything short of men's basketball medal will a disappointment

VILLENEUVE-D'ASCQ, France – Canada Basketball CEO Rowan Barrett answered the question without answer