Target Adding Fall Seasonal Offerings To Own Brand Mix
With the fall season fast approaching Target shoppers will soon see a host of new seasonal private label products hitting the shelves in an effort by the retailer to tap into consumers’ love of all things pumpkin.
During the company’s second quarter investor conference call, Rick Gomez, Target’s executive vice president and chief commercial officer, said 150 new own brand items will be rolling into stores. Among the items are Pumpkin Donut Holes, Jack-o-Lantern sandwich cookies, Pecan Pie ice cream, and Good & Gather turkey stuffing flavored potato chips.
“From sweet to savory, guests will find all their favorites and be inspired by what will surely become some new favorites too,” he said.
The new products are part of Target’s continued strategy to expand the presence of unique items sold under its own brands and will hit stores following the retailer’s stronger-than-expected second quarter. For the three months ended August 3, total revenue was $25.5 billion, up 2.7% year-over-year. Comparable store sales were up 2%.
The strong quarterly performance in part was buoyed by Target’s own brand assortment, which Gomez said grew faster than the total enterprise and showcased the relevance, quality, and value its store brands provide consumers.
“Because of our industry-leading design and sourcing capabilities, we are better positioned to remove unnecessary steps in the process, which allows us to reduce costs and increase speed to market,” he said.
With additions to its food and beverage assortment on the way, the retailer also reported growth in several other categories driven by its private brands. Women’s apparel had growth in the low to mid-single digits, with strength in Target’s young contemporary owned brand, Wild Fable.
Additionally, Gomez said Target’s recent relaunch of its intimates and sleepwear brand, Auden, has been received positively, offering items at compelling price points, such as $15 bras and $20 pajama sets.
“These results demonstrate the broad-based improvements that we're seeing in apparel, a trend we are eager to build on in the coming quarters and years,” he said.
Other notable launches include more than 100 items in the Gigglescape own brand. The assortment now includes preschool toys, games, puzzles and an expansion into plush.
Also, the partnership with celebrity Blake Lively and the launch of her Target-exclusive Blake Brown Haircare line has also been successful. Gomez said the new line was the retailer’s largest hair care launch, with five items in the assortment on launch day accounting for the five best-selling hair care items at Target.
