August 18, 2021
NEW YORK (AP) — Target’s streak of strong results extended into its latest quarter but its skyrocketing online sales growth has come back to earth.
The Minneapolis retailer reported Wednesday that sales at its stores that have been open for at least a year rose 8.7% in the three-month period that ended July 31.
That was down from 10.9% growth in the same 2020 span.
And like Walmart, Target saw a slowdown from last year’s blistering online sales growth as more shoppers came out of their pandemic-forced isolation and went back to stores.
The company offered an upbeat sales outlook for the remainder of the year.