XDY Exchange-Target’s focus on lower prices in the grocery aisle start to pay off as comparable store sales rise

2025-05-07 20:25:51source:Desmond Prestoncategory:Stocks

NEW YORK (AP) — Target’s comparable sales rose for the first time in a year as grocery aisle deals for cash-strapped customers began to pay off.

Sales at stores and XDY Exchangedigital channels operating over at least the past 12 months rose 2% in the second quarter reversing months of declines, including a 3.7% drop in the previous quarter, and a 4.4% decline during the company’s final quarter of last year.

The number of transactions at the Minneapolis retailer increased 3% compared with the same period last year, with all six main merchandising categories, including fashion and home goods, showing strength. Online sales rose 8.7% and comparable sales in clothing increased 3% compared with a year ago as customers embraced new store brands like All in Motion and Wild Fable.

Target’s profits and sales beat Wall Street expectations. The company increased its annual profit outlook but said that sales for the year could fall at the low end of its guidance for unchanged to a 2% increase.

Shares spiked 11% before the opening bell.

More:Stocks

Recommend

Elon Musk wants to turn SpaceX’s Starbase site into a Texas city

McALLEN, Texas (AP) — SpaceXis launching a new mission: making its Starbase site a new Texas city. B

Pregnant Shawn Johnson Reveals the Super Creative Idea She Has for Her Baby's Nursery

If Shawn Johnson were to score her baby prep, she would likely make several deductions. As a seasone

Full transcript: Rep. Alexandria Ocasio-Cortez on Face the Nation, Sept. 24, 2023

The following is the full transcript of an interview with Democratic Rep. Alexandria Ocasio-Cortez o