The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
MINNEAPOLIS, United States — Target Corp's growing focus on online sales and other changes at the US retailer could reward investors, propelling its stock to $75 to $80 during the next two years, returning 20 percent to 30 percent, Barron's reported on Sunday.
The Minneapolis-based discount chain has been making strides to better compete with Amazon.com Inc, boosting online sales to 4.4 percent of revenue in the latest fiscal year, up from 2.8 percent in fiscal 2016, Barron's said. That is higher than roughly 3 percent at Wal-Mart Stores Inc, Barron's said.
Retailers have to price well and provide items that cannot be bought elsewhere in order to beat Amazon, Barron's reported, citing Ivan Feinseth, chief investment officer at Tigress Financial Partners.
Target recently introduced several exclusive new brands, including its Cat & Jack children's clothing label, and is rolling out 12 more in-house brands this year, Barron's said.
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Other plans include trying to get more customers to use its credit and debit card loyalty program, known as REDcard, and focusing on new store formats, such as smaller stores for densely populated areas, Barron's reported.
By Suzanne Barlyn; editor: Sandra Maler.
From analysis of the global fashion and beauty industries to career and personal advice, BoF’s founder and CEO, Imran Amed, will be answering your questions on Sunday, February 18, 2024 during London Fashion Week.
The State of Fashion 2024 breaks down the 10 themes that will define the industry in the year ahead.
Imran Amed reviews the most important fashion stories of the year and shares his predictions on what this means for the industry in 2024.
After three days of inspiring talks, guests closed out BoF’s gathering for big thinkers with a black tie gala followed by an intimate performance from Rita Ora — guest starring Billy Porter.