Big Box Rules: Big Retailers Like Target Thrive in Outbreak
NEW YORK (AP) -- Target has joined Walmart in reporting surging sales for the initial months of the coronavirus' outbreak in the U.S., when shut-in shoppers stockpiled essentials and shifted their purchases online.
The Minneapolis-based discounter said its first-quarter comparable sales, which include online sales, rose 10.8%. That was fueled by a 12.5% gain in the number of items shoppers purchased as they made fewer shopping trips but brought home more items.
Stores at established locations saw sales up 0.9% for the quarter that ended May 2. But online sales more than doubled during the quarter.