Target Corporation, the US-based retailer, has reported a decrease of 1.3 per cent in comparable sales during the combined November/December period.
In the reporting period, the company’s total sales declined 4.9 per cent. Comparable sales at Target stores dived more than 3 per cent, partially offset by digital sales growth of more than 30 percent. Transactions were flat compared to last year, as digital transaction growth of more than 30 per cent was offset by a 1.7 percent decline in comparable store transactions.
“While we were pleased with Black Friday sales, December digital sales growth of more than 40 per cent and continued strength in our Signature Categories, these results were offset by early season sales softness and disappointing traffic and sales trends in our stores,” said Brian Cornell, Chairman and CEO, Target.
Also Read – Target’s sales down 6.7% in Q3 FY ’16
It may be noted that the company outpaced the industry’s digital performance, but the costs associated with the accelerated mix shift between stores and digital channels and a highly promotional competitive environment had a negative impact on the fourth quarter.
