As the COVID-19 crisis has evolved, Target said it has been experiencing unusually strong traffic and sales, particularly in its stores and same-day services, as consumers rely on Target for essential items like food, medicine, cleaning products and pantry stock-up items. As a result, the company has adjusted the expected timing of some of its strategic initiatives.
Target is investing $300 million in a range of employee-related initiatives. In recognition of the significant contributions its frontline team members are playing during this time, Target said it is raising their pay by $2 an hour until at least May 2.
A range of retailers across channels are responding to the coronavirus outbreak with moves to temporarily close their stores, reduce store hours and other consumer and employee oriented initiatives.
Retailers across a range of channels are addressing the coronavirus outbreak in stores and online, responding with measures to address consumer and employee safety and health concerns, ramping up the cleaning of stores and boosting cleaning tool and supply assortments to meet increased consumer needs.
After a year when the company boosted the buy online pick up in-store service, Target mapped out its vision for the year ahead, focusing on customer service and experience, as well as small-format stores where home merchandise will play a role.
Although store comparable sales slipped in the fourth quarter, digital sales helped Target post a higher overall comp and earnings that beat a Wall Street estimate.
Target has leaped into the top 10 of eMarketer’s ranking of e-commerce retailers in the U.S., although Amazon holds firm to the top spot.
Sally Beauty has elected two retail executives to its board of directors: Timothy Baer, former evp/chief legal officer and corporate secretary of Target; and Dorlisa Flur, former chief strategy and transformation officer of Southeastern Grocers.
As it also unveiled executive changes, Target reported that November/December holiday season comparable sales registered a 1.4% increase but that home department comps were off slightly.
Target is ready with spring home introductions that include natural and neutral colors, handcrafted looks and the first furniture to emerge from its Hearth & Hand with Magnolia partnership.
Target kicked off its Cyber Week sale one day early this year, with digital doorbusters available on Target.com on Sunday, December 1, and Monday December 2. Throughout Cyber Week, Target will offer deep discounts, with new offers available every day through Green Monday on December 9.
Target is introducing what it is calling “HoliDeals,” featuring thousands of deals throughout the season on items like décor, electronics, toys and more. HoliDeals kicks off this week with the reveal of the retailer’s Black Friday ad and a two-day Black Friday Preview Sale featuring four times the number of deals compared to last year, the company said.