Target’s Holiday Sales Fell Flat

The mass merchant is positive their fourth-quarter earnings are on track regardless
Posted January 15, 2020

Target Corp. (Minneapolis) revealed its same-store sales for the holidays were only up 1.4 percent compared to 5.7 percent last year, CNBC reports.

Categories that would be expected to do well around the holidays did not perform as anticipated, like toys and electronics. However, its apparel and beauty categories did well, with apparel sales up 5 percent and beauty sales up by 7 percent.

Target devoted more in-store square footage to toys, according to CNBC, as it partnered with Disney to create shop-in-shops in certain locations. Target also powers the Toys “R” Us brand’s website that recently relaunched. Despite this, the mass merchant retailer said toy sales were “about flat,” CNBC reports.

Target is still maintaining its positive outlook for its fourth-quarter earnings.