It's been growing faster than Costco in recent quarters. There are a lot of fundamental reasons to side with Target here. The warehouse club model has served Costco members and investors well. It has now rattled off seven consecutive months of double-digit growth in comps. It should post double-digit comps for the fiscal year that ends in August, snapping a string of eight straight years of single-digit top-line growth. It announced last week that sales rose 17% during the holiday shopping period.Ĭostco is another retailer that's waking up from a slumber. Target has proven its magnetism over the past year. A whopping 95% of Target shoppers continue to visit the store to complete the transaction despite the obvious convenience of e-commerce in the new normal. A growing number of shoppers are also ordering online for in-store pickup. Head out to your local mass-market retailer and you'll see lanes for curbside pickup of orders placed online. Digital sales skyrocketed 155% in its latest quarter, but we're not just talking about e-commerce.
TARGET BOOKENDS DRIVER
A big driver for the monster report is Target embracing new next-gen growth initiatives.
Comps soared 21% in its its latest quarter, with adjusted earnings more than doubling. This fiscal year has been a feast for Target. It's been single-digit growth - including a pair of single-digit declines - in the 13 years between two fiscal bookends.
Target will post double-digit growth for the first time in 14 years for the fiscal year that ends in two weeks. It picked up the pace in the face of the pandemic. The "cheap chic" mass-market retailer has historically held up well as a steady all-weather performer.
Target keeps hitting the mark these days. And I think in some ways those two bookends tell you a lot about how this community has grown, evolved, thrived and survived.Image source: Getty Images. But it’s also archived informally by a lot of people and their scrapbooks in their home, in their photo albums and the things that they’ve stored away in their closets, right?”Īs she put it, “LGBTQ people have been living and thriving and surviving in Memphis for a long time and this is not a modern story so, we start off our exhibit with actually a story about an individual called Frances Thompson who, in 1866, was a first record that we have of a person who identified as a woman and in1866 is arrested for dressing as a woman and we wrap up our narrative with the story of Brandon Allen who, in 2019 was voted in as a homecoming royalty a White Station High School - a big public diverse high school here in our city. “This is a community whose story is being archived multiple ways,” said Nandi, “It’s archived in the University of Memphis and through the papers of Vincent Astor. That committee and their contacts brought in local artifacts and stories for the exhibit. “We reached out to young people, to students - college students, high school students - so a wide smattering of people in the community and we invited them to come to a monthly meeting here at the museum.” “So we reached out to local activists, to people who head up organizations in the city,” said Nandi.
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