Target reported increased revenue in the second quarter as more people returned to stores and online spending moderated compared with last summer, when Covid-19 upended shopping habits
. Results from both chains—which sell groceries, added curbside services and stayed open throughout the pandemic—showed little impact from the recent rise in Covid-19 cases in the U.S.
Target executives said during the conference call that the Delta variant’s spread hasn’t yet resulted in changes to consumer behavior, but they are closely monitoring the situation. “The second half of the year will likely continue to be volatile, particularly with the uncertainty caused by the Delta variant,” Mr. Cornell said.
“Our inventories are up well over $2 billion versus last year, and so we feel really good about being positioned to support the fall and positioned to support the holiday season,” Chief Financial Officer Michael Fiddelke said during the conference call.
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