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A retailer other than Amazon is making money

Like a lot of retailers, Target has suffered this year from being in Amazon’s crosshairs. But the company offered some encouraging news for a change on Wednesday, saying foot traffic at its stores is up, as are profits.

For now, that makes Target a bright spot in a retail sector that’s been been sending mixed messages lately. The chain’s upbeat news, delivered as part of its official quarterly earnings report on Wednesday, also showed how one underdog is making at least some headway versus the Amazon juggernaut.

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Customer visits to Target stores rose 2 percent in the period ending July 29, surprising even the company itself, executives said in a conference call with analysts.

The company also said it’s had some success charging higher prices — a promising sign for the broader economy.

“It’s notable that in the second quarter we saw meaningful increase in the percent of our business done at regular price and a meaningful decline in the percent on promotion,” Target chief Brian C. Cornell said in the earnings conference call.

Some other key details:

  • Target shares climbed about 4 percent on the earnings news Wednesday but remained deep in the red for the year to date, down more than 20 percent.
  • Target was the sixth largest U.S. retailer in 2016, according to the National Retail Federation, after Wal-Mart, Kroger, Costco, Home Depot, and Walgreens.