Target seems to have hit the bullseye this sales quarter, as sales have boosted to the highest the company has seen within 13 years. Because of these numbers, the superstore seller has decided to up their yearly forecast in hopes that their successes will continue.
For second quarter reporting, TargetCorp stock reported an impressive 4.9 percent rise, once again beating analyst expectations. Additionally, online sales have helped Target, as purchases made on the web surged 41 percent. Target CEO Brian Cornell said “we’re currently benefitting from a very strong customer environment, perhaps the strongest I have seen in my career.”
With the stock market reaching an all-time-high in its bull run, some investors and analysts are preparing for Target to either bust through the roof or crash through the ground in the next few quarters. On one hand, online retail is so prominent; however, Target is competing with Amazon and Walmart, who have also seen an increase in sales.