Target is an American retail giant that ranks as the second-largest discount store chain in the United States. As of 2020, the company has nearly 2,000 stores across the country. Target’s sales have been steadily increasing over the past few years, and its stock price has more than doubled since 2016.
Target’s strong performance in recent years can be attributed to a number of factors, including its focus on digital growth, expansion into new markets, and aggressive marketing campaigns. Target has also benefited from the troubles of its competitors, such as Walmart and Sears.
Target’s sales increased by 3.4% in 2019 to $75.4 billion. The company’s net income rose by 19% to $3.9 billion, and its diluted earnings per share increased by 24% to $5.51. Target’s same-store sales (sales at stores open for at least one year) increased by 3.8% in 2019, marking the ninth consecutive quarter of positive same-store sales growth.
Looking ahead to 2020, Target is expecting continued sales growth and plans to invest heavily in its digital capabilities. The company is also planning to open dozens of new stores in the coming year, including its first stores in Canada and Mexico. Target’s strong financial performance in recent years suggests that it is well-positioned for continued success in 2020 and beyond.
How is Target doing financially 2020?
Target is doing well financially in 2020. The company’s sales are expected to continue to grow, and it plans to invest heavily in its digital capabilities. Target is also planning to open dozens of new stores in the coming year.
