Target Wins Market Share

Target’s third-quarter net income rose to $1.01 billion, up from $714 million. The discount retailer won market share by turning shoppers’ pandemic habits into lasting gains. Buoyed by this strength, sales online and at stores open at least a year rose 20.7 per cent during the third quarter. Comparable digital sales grew by 155 per cent, while same-store store sales climbed 9.9 per cent. Total revenue grew 21 per cent to $22.63 billion from $18.67 billion last year.