Target (TGT) misses Q1 EPS by 9c, reports comparable digital sales growth of 141%

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Go back to Target (TGT) misses Q1 EPS by 9c, reports comparable digital sales growth of 141%

Target Corporation Reports First Quarter Earnings

May 20, 2020 6:30 AM EDT

MINNEAPOLIS, May 20, 2020 /PRNewswire/ --

First quarter comparable sales grew 10.8 percent, driven by a 12.5 percent increase in average basket, as guests made fewer, bigger shopping trips. Store comparable sales increased 0.9 percent. Digital comparable sales grew 141 percent, accounting for 9.9 percentage points of Target's comparable sales growth. Digital comparable sales accelerated every month in the quarter, from 33 percent in February to 282 percent in April. Stores fulfilled nearly 80 percent of Target's first-quarter digital sales. Same-day services (Order Pick Up, Drive Up and Shipt) grew 278 percent and... More