Target Corporation has announced its fourth-quarter and full-year 2019 results!
The company’s total comparable sales grew by 1.5 per cent in the fourth quarter, reflecting comparable digital sales growth of 20 per cent.
During the quarter, the company earned a total revenue of US $ 23.4 billion, thereby growing by 1.8 per cent compared to last year, reflecting sales growth of 1.8 per cent and a 9.3 per cent increase in other revenue.
The company, a general merchandise retailer, has more than 1,860 stores in US and employs more than 350,000 people.
Notably, full-year sales increased 3.6 per cent to US $ 77.1 billion from US $ 74.4 billion last year, reflecting a 3.4 per cent increase in comparable sales combined with sales from non-mature stores.
The full-year revenue of US $ 78.1 billion grew by 3.7 per cent compared to last year, reflecting sales growth of 3.6 per cent and a 6.3 per cent increase in other revenue.
Sourcing variety of products from India, the company works here with around 100 exporters like Radnik Exports, Orient Fashion Exports, Richa Global Exports, Shivalik Prints Ltd., Arvind Limited, Trident Ltd. and Vardhman Fabrics, among others.
Brian Cornell, Chairman and CEO of the company commented, “With 11 consecutive quarters of positive comparable sales growth, driven by healthy performance in both our stores and digital channels, Target’s results demonstrate that we’ve built a sustainable business model that drives strong topline growth and consistent bottom line performance.”
