Target's Q4 incremental traffic, marked a quarter of growth
05 March 2022, Mumbai:
Target, the well-known American retailer, just posted its 19th consecutive quarter of growth, thanks to an impressive 8.1 percent increase in traffic in the fourth quarter. The retailer's fourth-quarter comps increased by an amazing 8.9%, following a year-over-year increase of nearly 20%.
On a comparable traffic increase of 12.3 percent, comps increased by 12.7 percent for the year, adding to the previous year's gain of 19.3 percent.
Despite supply chain and freight expenses apparently cutting into the retailer's margin, the US retail behemoth saw its operating income climb by 36.8% to the US $ 8.9 billion for the full year.
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Target's CEO, Brian Cornell, has credited the company's success to customers as well as investments made in the company's shops and digital capabilities - a move that was met with skepticism when it originally began five years ago.
According to reports, Target's actual shops also serve as fulfillment centers, with 95 percent of its fourth-quarter sales being completed in some fashion by the company's locations.
Target is the United States' ninth-largest retailer, with sales of $ 99.6 billion in 2021.
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CREDITS:cnbc.com & Apparel Resources.
