Listen Now: A Target Run

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For the past year target has been pushing through the pandemic and it’s paying off. I’m Brian Banmiller on business.

The retail giant is reporting sales for the past year grew by fifteen billion. That number exceeded the company’s annual sales growth over the past eleven years combined. One of the biggest boosts to its bottom line, online sales. With the pandemic more people shopped from their homes and target was one of the easiest platforms to shop on. That service alone brought in a ten billion dollar surge. And the company has big plans to keep the momentum going. It plans to accelerate the pace of building small-format stores and will increase the planned location from twenty-nine to forty. Target is also remodeling one hundred and fifty stores this year to make them more appealing to shoppers. The company is also testing a merchandise sortation hub in Minneapolis. Here, packages will be sorted to help speed up deliveries to customers ordering online. If successful there is a plan to build five more hubs. A target run is already an hour-long adventure and it’s apparently only getting better. Brian Banmiller, CBS News.

About Brian

CBS News Radio national business journalist Brian Banmiller has spent more than 40 years in the news industry, covering business, politics and the economy on television, radio and in print. Currently, his “Banmiller on Business” reports are delivered to an audience of millions nationwide.