The holiday season was merry and bright for Target as the retailer reported considerable growth in sales during the combined November/December period.
For the final two months of 2020, comparable-store sales grew 17.2%, driven by a 4.3% increase in traffic and a 12.3% increase in the average ticket. Sales at stores were up a solid 4.2% while comparable digital sales were up a whopping 102%.
“The momentum in our business continued in the holiday season with notable market share gains across our entire product portfolio,” said Brian Cornell, Target’s chairman and CEO. “We’re very pleased with our results, and the strength of our performance is a reflection of the tireless work of our team to support our guests through a safe, convenient and inspirational experience.”
Comparable digital sales growth was driven primarily by the Company’s same-day fulfillment services (Order Pick Up, Drive Up and Shipt), which together grew 193%. Of the services, Drive Up grew the fastest at more than 500%, while Target’s sales fulfilled by Shipt grew more than 300%.
Among the categories to see growth was Home, which saw comparable sales increase in the low-20% range during the past two months of 2020.