Target Corp shares rose 5% after the retailer reported stronger second-quarter sales, higher traffic and a sharp jump in earnings, helped by broad-based demand across stores, digital channels and key merchandise categories.
The company said second-quarter net sales grew 5.3% from a year earlier, while comparable sales rose 3.8%. The comparable sales growth was driven mainly by a 3.6% increase in traffic, showing that more shoppers visited Target during the quarter.
