The supermarket firm Target has announced that it has
performed very well in the second quarter of the year. The company experienced
34% growth in e-commerce sales.
Nearly three quarter of these is because of its same-day order fulfilment
strategy. This involves buy online pickup in store, curbside pickup and local
delivery.
In general, Target
has exceeded expectations in revenue. It was forecasted to make $18.34 billion.
However, these increased by 3.4% to reach $18.42 billion. Earnings per share
grew by 17% to 1.82 vs. $1.42 and overall comp growth expanded by 3.4% in
contrast to 2.9%. This is good news for the company who has been going through
some difficult times. It has also been facing challenges because of tariffs in
Chinese goods.
Target’s CEO Brian Cornell advanced, “In our digital
channels, we continue to see the most rapid growth in our same-day
fulfilment options, in-store pickup, drive-up and (delivery unit) Shipt,
which together have more than doubled their sales in the last year”. These
innovative options offer speed, convenience and reliability. As such, they are
the preferred fulfilment choices for consumers. The same-day fulfilment
technology is being leveraged in Target’s
1800 stores. Thus, it has resulted in outstanding financial performances.
Target’s
e-commerce sales have exceeded expectations
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