NEW YORK (AP) — Target, which embarked on a turnaround plan under its new CEO three months ago, reported its largest jump in comparable sales in four years Wednesday.
More customers buying in all six of Target's main merchandising categories helped deliver the better-than-expected sales, the company said. Comparable sales — those coming from stores and digital channels operating for at least 12 months, rose 5.6% in the three-month period ended May 2. It was the biggest gain since early 2022, and the first positive read after three consecutive quarters of negative comparable sales.
The retail chain also raised its annual revenue outlook, saying it expected the momentum to continue the rest of the year.
