Target's stock jumped Tuesday after the retailer reported an 8.9% jump in comparable sales and boosted its profit and sales forecasts for 2022.
The retailer has seen demand surge during the pandemic, reporting $106 billion in total revenue for 2021 and showing growth of nearly $28 billion, or more than 35%, over the past two years. an 8.
9% jump in comparable sales for the holiday quarter and beat on earnings, posting adjusted earnings per share of $3.19, up from Wall Street's expectations of $2.85. Traffic surged too, with more than 95% of Target's sales taking place in its stores, the company noted.
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