35 days ago • Posted by William Ramstein

Target reported strong Q1 results as omni-channel strategy provided flexibility

While digital was the primary driver of growth in 1Q20, the comp growth of +22.9% in 1Q21 was driven primarily by stores (+18%!). Both stores & digital channels have expanded first quarter sales by more than $3bn over the last two years. Same-day services represented “well over half” of digital sales in the quarter (vs. “less than 1/3” in 1Q19), and TGT’s continued investments and expanded merchandise offerings across its same-day services could support growth.

Source: BoA