Target’s comparable sales grew by 1.5 per cent in the fourth quarter. Comparable digital sales grew 20 per cent. Revenue grew by 1.8 per cent. Full-year sales increased 3.6 per cent, reflecting a 3.4 per cent increase in comparable sales combined with sales from non-mature stores. Revenue for the year grew by 3.7 per cent compared to last year, reflecting sales growth of 3.6 per cent and a 6.3 per cent increase in other revenue.
The company, a general merchandise retailer, has more than 1,860 stores in US and employs more than 3,50,000 people. Target has had eleven consecutive quarters of positive comparable sales growth, driven by healthy performance in both its stores and its digital channels. Target has built a sustainable business model that drives strong topline growth and consistent bottom line performance. In the fashion department, it has refreshed stores to make individual brands look more like their own mini boutiques, with more mannequins and table displays showing off merchandise. It has launched dozens of in-house apparel brands over the past three years. Target sources a variety of products from India and works with around 100 Indian exporters like Radnik Exports, Orient Fashion Exports, Richa Global Exports, Shivalik Prints, Trident and Vardhman.