Target has announced holiday season sales for the month of November/December 2018.

  • Comparable sales (comps) grew 5.7% compared to 3.4% in the same period in 2017.
  • Comps for digital increased 29%.

The retailer witnessed strong growth in toy, baby and seasonal among all five merchandise categories.

Leadership changes

  • CFO Cathy Smith Chief will retire and continue in her position until her successor is named. Post-transition, Smith will move to an advisory role.
  • Rick Gomez Chief Marketing Officer will be promoted to a new role as Chief Marketing and Digital Officer and lead Target’s digital team.
  • Mike McNamara, Target’s Chief Information Officer will lead Enterprise data Analytics and Business Intelligence team.

Outlook 2018

The retailer expects comps to increase 5% approximately for Q4 2018 and digital sales will increase by more than 25% for FY2018.

Source: Target PR