Target’s Q1 sales up 2.8 per cent

Target Corp. reported an increase of 2 per cent in first-quarter. The retailer also posted a lift in sales and double-digit gains in its digital channel. Its net operating profit after taxes was US $ 3,181 on May 2, 2015 compare to US $ 3,070 of same period. Its sales increased 2.8 per cent to US $ 17.1 billion from US $ 16.7 billion last year, reflecting a 2.3 per cent increase in comparable sales combined with sales from new stores; digital channel sales grew 37.8 per cent.

In providing an update on its Canadian operations, as of April 12, Target Canada completed its inventory liquidation efforts and closed the last of its 133 Canadian retail stores. Brian Cornell, Chairman and CEO of Target said, “We’re pleased with our first quarter traffic and sales, particularly in our signature categories, which drove better-than-expected profitability through improved gross margin and continued expense management.”