Target's Turnaround Continues to Gain Momentum

Dow Jones
08/15

1224 ET [Dow Jones]--Target's turnaround is picking up steam, according to Placer.ai. The retailer gathered momentum throughout the spring, with visits improving each month before jumping 7.3% in July, its strongest performance of the year. The rise in July is particularly notable given that Target's Circle Deal Days event moved to June this year to coincide with Amazon's Prime Day, the location-analytics firm says. The improving trends come on the heels of Target's positive comparable-sales result last quarter. "Fresh summer designer collaborations and a strong back-to-school push appear to have resonated strongly with shoppers," the report reads. Target is scheduled to report 2Q earnings on Wednesday.

 

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