Gifts / Sports & Toys

In 2020, under the weight of Covid-19, international retail giants J.Crew, Neiman Marcus, JCPenney...one after another well-known American retailers fell sadly. Traditional physical retail has fallen into the dilemma of too many stores, heavy debt, and lack of e-commerce. The first quarter of 2021 ushered in a retaliatory rebound. The first announcement was the retail giant Arget Corp. ("Target").

Minneapolis-based Target Corp. ("Target") today released its first-quarter earnings report. Its performance has depressed estimates. After 2020 performance growth has stalled, it will start again in 2021.

Retailers’ omni-channel fulfillment model continues to be successful, with more than 95% of digital orders being fulfilled through physical Target stores. Sales soared by 23%, and total revenue increased from US$19.6 billion in the first quarter of last year to US$24.1 billion.

Target chairman and CEO Brian Cornell (Brian Cornell) said: "Our performance in the first quarter was outstanding in all aspects and demonstrated the power to put our store at the center of our strategy. "In the quarter, store consolidated sales increased by 18%, although they also completed more than three-quarters of Target’s digital sales, including "same-day service" which increased by more than 90%. Importantly, the market share gains in the first quarter exceeded US$1 billion, compared with US$1 billion a year ago, which shows that Target’s bond with our guests continues, although compared to a year ago, They have more shopping options. "

While the toy industry is waiting for the overdue public release of the NPD Group’s first quarter US toy industry sales report, Target’s performance reflects most of the enthusiasm seen by the entire industry.

Target’s recently promoted executive vice president and chief growth officer, Christina Hennington, emphasized the growth of the company’s hardline division in a conference call with investors and analysts this afternoon The rate reached a staggering 30%.

She said: "The results are led by sporting goods and toys, both of which have a total revenue of more than 40%."

In recent years, Target has paid more and more attention to the choice of toys and games, including the recent holiday partnership with FAO Schwarz, and the increasing number of exclusive toys and collectibles from major brands and emerging companies.