Target’s comparable sales growth the best in a decade
Minneapolis-based Target has come a long way according to CEO Brian Cornell, as the company recently posted its best comparable sales growth in more than a decade.
According to Cornell, Target’s private brands are a good portion of the company’s success.
“We’ll keep investing in new owned brands, like our recently announced premium wine assortment, The Collection, and new intimates and sleepwear brands Auden, Stars Above and Colsie,” Cornell said.
The company reported fourth-quarter comparable-sales growth of 5.3 percent on traffic growth of 4.5 percent. For both the fourth quarter and full year, Target said it experienced robust comps growth and market-share gains across all five of its core merchandise categories.
“We’re very pleased with our fourth-quarter performance, which capped off an outstanding year for Target,” noted Cornell. “We have been driving an ambitious agenda to transform our company, evolve with our guests and drive strong growth. On every count we’ve been successful, and as we enter 2019, we will continue to lead the industry by adapting, innovating and delivering more for our guests and shareholders.”