Omnichannel

Target sales, traffic robust in Q4

Photo by istock.com

March 1, 2022

Target's comparable sales grew 8.9% and comparable traffic grew 8.1% in Q$ 2020 and total revenue grew more than 35% over the past two years.

Those are top statistics from the retailer's Q4 earnings report and data on full-year 2021 earnings, according to a press release.

Additional earnings information included:

• More than 95% of Target's fourth quarter sales were fulfilled by its stores.
• EPS established an all-time high with GAAP EPS of $3.21 and adjusted EPS of $3.19, despite significant investments in team, price and inventory availability.
• Target delivered $106 billion in total revenue, having grown nearly $28 billion, or more than 35%, over the past two years.
• Total sales have grown more than $27 billion since 2019, reflecting more than $14 billion of additional store sales and digital sales growth of nearly $13 billion.
• All five core merchandise categories delivered double-digit comparable sales growth in 2021, on top of unprecedented growth in 2020.
• Operating income margin rate of 8.4% expanded nearly 150 basis points from 2020.

"Our strong fourth-quarter performance capped off a year of record growth in 2021, reinforcing the durability of our business model and our confidence in long-term profitable growth," Brian Cornell, chairman and CEO of Target, said in the release. "As we look ahead, we'll keep investing and delivering on all that has earned the loyalty and trust of our guests; that starts with our outstanding team and includes continued differentiation through affordability, assortment, ease and convenience."