Target comps boosted by online sales explosion Extending enhanced wages through May 30
Photo from Target/Bullseye View blog
Minneapolis – Home product sales are holding their own at Target while sales of essentials are booming.
This morning, the retailer announced that quarter-to-date consolidated comp is up more than 7%, with a slight decrease in store comp offset by a more than 100% jump in digital sales.
In Target's core merchandise categories, quarter-to-date comps are up more than 20% in essentials and food & beverage, up more than 16% in hardlines and up slightly in home. In contrast, comp in apparel & accessories have declined more than 20%.
“[We} are seeing record-setting digital growth, strong demand for our same-day fulfillment services and broad market-share gains across each of our core categories,” said Brian Cornell, chairman and CEO.
For the month of March, comp for the home category declined in the low single digits as consumers concentrated on necessities. For April, month-to-date comp for home is up in the high teens while comp is up more than 12% in essentials and food & beverage. Hardlines comp is up more than 30% so far this month.
Target also said today it is extending its enhanced staff wages and benefits through May 30.
This means the discount chain is maintaining its $2-an-hour temporary wage increase for another five weeks, “in recognition of the significant contributions of frontline team members.”
Also through the end of May, the company will continue to extend access to free back-up care for its staff plus 30-day paid leave for those who are 65 or older, pregnant or who have underlying medical conditions as defined by the Centers for Disease Control and Prevention (CDC).
This follows Target’s previously announced $300 million investment in wages, bonuses, paid leave and benefits for its frontline employees. These actions are in addition to protective equipment, dedicated shopping hours and discounts the company has introduced to support its staff during the pandemic.
“We have deep gratitude for the remarkable effort our team has put into supporting guests across the country,” said Cornell. “We remain committed to prioritizing our efforts to provide for their well-being so they can take care of themselves and their families during this unprecedented time.”
Target Corp. today also shared other recent updates related to the impact from COVID-19. Among these:
Further enhancing the safety of stores and distribution centers by providing masks and gloves to all employees, and implementing rigorous cleaning and social distancing processes
Providing ongoing guidance to staff to practice healthy hygiene habits, as recommended by theCDC, and offering thermometers upon request to perform at-home checks prior to coming to work
Monitoring store occupancy and metering traffic, when necessary, to enhance the average space per person and reduce the possibility of congestion; and setting aside time on multiple days each week to accommodate vulnerable shoppers
Boosting same-day services staff to meet increasing demands from shoppers for “Drive Up” and other in-store pickup programs
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