Target Stock In Focus After Better-Than-Expected Holiday Season Sales: Retail’s Upbeat

Sentiment on Stocktwits turned ‘bullish’ from ‘extremely bearish’ a day ago

Shares of Target ($TGT) were in the spotlight as the retailer posted better-than-expected sales numbers for the holiday shopping season, lifting retail sentiment.

The company said its total sales during the two holiday months grew 2.8% over last year, with a comparable sales increase of 2% and record-high sales during both the Black Friday and Cyber Monday promotional periods.

The jump in sales was driven by a nearly 3% increase in traffic, with gains across both stores and digital channels, the company said.

During November and December, its digital sales grew nearly 9% over last year, with over 30% jump in same-day deliveries. It also saw a 50% spike in Target Plus, its third-party marketplace.

Sentiment on Stocktwits turned ‘bullish’ from ‘extremely bearish’ a day ago. Message volumes rose to ‘extremely high’ zone.

Compared with its third-quarter sales trends, the company said it saw a “meaningful acceleration in discretionary categories” during the holiday season, most notably in apparel and toys, and saw continued strength in beauty and frequency categories.

"Our team delivered continued traffic growth and better-than-expected holiday-season performance, thanks to their focus on serving guests with an inspiring, easy, and joyous shopping experience," said Brian Cornell, chair and CEO of Target, said.

Target stock is down 1.43% year-to-date.

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