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Target Corp’s Q1 sales grow 10.8 per cent

Comparable sales of US-based retailer Target Corporation grew by 10.8 per cent in the first-quarter FY 2020 as customers made fewer but bigger shopping trips. On the other hand, there was a huge jump in the retailer’s digital comparable sales, which grew by 141 per cent. Digital comparable sales accelerated every month in the quarter, from 33 per cent in February to 282 per cent in April.

Its total revenue of $ 19.6 billion grew 11.3 per cent compared to last year. The retailer saw healthy market-share gains across all five of its core merchandise categories. Target’s positive results are a good sign for Indian home furnishing manufacturers as there are many companies in India, which are supplying textile products (soft goods) to the retailer.