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Target Holiday Season Sales Grow

The retailer also reported the retirement of two long-time key executives.
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Target reported sales gains during the 2024 holiday shopping season.

Target closed out 2024 with gains in comparable store sales and higher foot traffic and is starting the new year with several changes to its leadership team. 

During the two-month holiday period, total sales were up 2.8%, reflecting a 2% increase in comparable store sales and record-high sales during the retailer’s Black Friday and Cyber Monday promotional periods. Target officials said sales were driven by a nearly 3% increase in traffic, representing gains across stores and digital channels.

During November and December combined, digital sales grew nearly 9% over the comparable period from the previous year, reflecting more than 30% growth in same-day delivery powered by Target Circle 360. The company also reported a nearly 50% increase in Target Plus. More than 97% of the company's sales were fulfilled by stores. 

"Our team delivered continued traffic growth and better-than-expected holiday-season performance, thanks to their focus on serving guests with an inspiring, easy, and joyous shopping experience," said Brian Cornell, chair and chief executive officer at Target. "With an unmatched combination of quality and value, on-trend assortments, and a seamless shopping experience, our team continues to make Target a destination for consumers, both during important seasonal moments like the holidays and in the everyday moments in between."

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Following its solid holiday season, Target announced the retirement of Mark Schindele, executive vice president and chief stores officer. He has been with the company for 25 years. Adrienne Costanzo, senior vice president of Store Operations, has been named the retailer’s chief stores officer. In this role, effective Feb. 2, she will lead more than 350,000 store team members and oversee the operations of the company's nearly 2,000 locations across the United States. 

Also, Brett Craig, executive vice president and chief information officer, will retire after 15 years at Target. Prat Vemana, executive vice president and chief digital and product officer, will take on the role of chief information and product officer and remain on the leadership team.

Sarah Travis, senior vice president of Roundel and Social Commerce, will be promoted to executive vice president and chief digital and revenue officer and join the leadership team. She is credited with significantly growing the retailer's in-house media company, Roundel, putting it on pace to deliver nearly $2 billion in value to Target in fiscal 2024. 

"These leadership updates will help us continue to deliver a differentiated shopping experience every day across every channel," said Cornell. "I want to thank Mark and Brett for the notable contributions they've made during their long tenures with the company and wish them both well in their retirements. Adrienne, Prat, and Sarah all bring tremendous retail expertise to their roles and Target's leadership team as we accelerate Target's strategy."

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