Jan. 13, 2021 6:35 am ET
Target Corp. said Wednesday that winter holiday sales rose solidly as more shoppers bought goods online, adding to a series of strong results from the retailer during the Covid-19 pandemic.
Comparable sales, those from stores or digital channels operating for at least 12 months, rose 17% in November and December from a year earlier. Store-based sales increased 4.2%, while digital sales more than doubled during that period, driven by same-day online pickup and delivery orders, the company said.
“The momentum in our business continued in the holiday season with notable market share gains across our entire product portfolio,” Target Chief Executive Brian Cornell said in a statement. Target has invested heavily in recent years to expand its online business largely by sourcing online orders from stores’ shelves. Around 95% of Target sales in the period were sourced from stores, the company said.