Target (TGT) Reports Strong Start to Black Friday in Stores and Record Online Sales

Target Corporation (NYSE: TGT) today reported a strong start to the holiday shopping season. Millions of guests visited Target stores across the country and Target.com, which had its biggest day ever and experienced double-digit growth, to save on Black Friday deals, including the retailer’s lowest prices ever on select items.

“Shopping at Target has become an annual Thanksgiving tradition for millions of our guests, and we’re thrilled at the response we’ve seen this year. We had a record-breaking day on Target.com and traffic to our stores was strong,” said Brian Cornell, chairman and CEO of Target, who greeted shoppers at the Jersey City Target store in N.J. on Thanksgiving and will be ringing the opening bell at the New York Stock Exchange in celebration of Kids Day later this morning. “This year, we doubled down on offering guests an incredible assortment at outstanding prices. Based on early results, it’s clear that our deals are cutting through. We expect this momentum to continue throughout the weekend and into next week as we offer Target’s guests a truly unprecedented opportunity to save 15 percent off nearly everything online and in our stores this Sunday and Monday.”

Black Friday Pre-Sale and Thanksgiving Day Shopping

On Wednesday, guests started their shopping early with Target’s Black Friday pre-sale on Target.com. New this year, Target’s guests could take advantage of pre-sale deals in stores via Cartwheel, resulting in the biggest day ever for new users of the popular savings app. Early on Thursday morning, the savings continued as Target offered guests access to nearly all of its Black Friday doorbuster deals on Target.com. Target.com had a record-breaking day, with traffic and sales eclipsing 2015 Cyber Monday, driven largely by doorbusters in electronics. Target also saw an increase in guests shopping via mobile, contributing to more than 60 percent of the retailer’s online sales. Top performing Black Friday deals at Target include:

• TVs were a top seller, with more than 3,200 TVs sold every minute in the first hour of store opening.
• Apple products were among the most popular deals, with guests taking advantage of savings on the iPad Air 2, iPad Pro and Apple Watch Series 1.
• Popular gaming systems included Xbox One S and PlayStation 4. Target sold half a million video games within the first hour of store opening.
• Wearables saw a 50 percent sales increase, including the Fitbit Charge HR.
• Top-selling toys included LEGO, NERF, Our Generation and the Jetson V6 Hoverboard, which sold out in minutes on Target.com.
• Target sold five times more wireless headphones this Black Friday compared to last year, including the popular Powerbeats Wireless In-Ear Headphone 2.
• Robotic vacuums, including the Hoover Quest 700 Robotic Vacuum, generated 10 times the sales compared to last year.
• Sales for family sleepwear were nearly double compared to last year, driven by a 30 percent off savings plus an additional 15 percent off in stores with Cartwheel.
• And, the 3-foot stuffed bear for $10, a surprise hit from last year, sold out quickly in stores across the country.

The Savings Continue, Including 15 Percent Off in Stores and Online

As part of Target’s “10 Days of Deals,” today and tomorrow, guests will receive 30 percent off apparel and accessories for the entire family, plus an additional 15 percent off in stores using Cartwheel. On Saturday, Nov. 26, guests can get big discounts on holiday decorations, saving $50 when they spend $100 in the Wondershop, Target’s destination in stores and online that features more than 2,000 new festive products for the season.

Capping off “10 Days of Deals” and kicking off Cyber Week, Target’s guests will receive an unprecedented opportunity to save 15 percent off nearly everything in stores and on Target.com this Sunday, Nov. 27 and Monday, Nov. 28. The discount will go live online early Sunday morning and will be applied at checkout online and in stores during the two-day sale. No promo code or coupon is required. The discount includes all gaming consoles, iRobot vacuums, KitchenAid appliances and all Apple products.

As always, guests can use their REDcard for an additional five percent off on nearly all items purchased in stores and online, adding to the significant discounts Target is offering this season. Online shoppers can continue to take advantage of free shipping on Target.com through January 1, 2017. And the 30 million savvy deal seekers who use Cartwheel will continue to find thousands of offers throughout the holiday season.

You May Also Be Interested In

• Main Street Capital (MAIN) Reports Prelim Q1 Results
• Bank of America meets earnings estimates, beats revenue expectations in Q1 2024
• Recursion Pharmaceuticals (RXRX) Appoints Najat Khan as Chief R&D Officer and Chief Commercial Officer