This morning, Target announced its third quarter 2016 earnings results. Click here for the full results and see below for a snapshot of how Target is continuing to move its strategy forward.
TARGET EARNINGS 2016 Q3
Highlights from Target’s Third Quarter 2016
Sales in our Signature Categories accelerated in the third quarter, outpacing the company average by more than three percentage points.
Home saw a DOUBLE-DIGIT increase in digital sales
STRENGTH IN DENIM was driven by new fashion and fits for adults and kids
Pillowfort continues to deliver a strong DOUBLE-DIGIT COMP
Holiday and key seasonal moments are where Target really shines. Our guests know they can find everything they need for stocking up, entertaining and celebrating.
Back to School & Back to College: Strong third quarter sales driven by school and office supplies, value-focused offers on key list items and double-digit growth in Cat & Jack*(*Year-over-year double-digit growth in Cat & Jack compares with the brands it replaced.)
Cat & Jack is INTRODUCING 1,000 NEW PIECES between October and December
Strength in Halloween product sales was driven by costumes and décor
What’s to come:
2,000 new trim products in Wondershop
HUNDREDS of curated gift-giving ideas in Wonderlist on Target.com
1,800 new or exclusive toys
EXPECT MORE. PAY LESS.
We began to roll out stronger value messaging in the quarter, and it’s resonating.
The introduction of Target Run Day drove strong traffic and sales
More Weekly Ad space for Grocery and Essentials = clear ways to save
More single price point endcaps began to roll out in Q3 across Grocery, Essentials and Baby