Target delays plans to remodel stores and withdraws its forecast citing coronavirus pandemic
and other grocery chains, customers have come to Target to stock up cleaning products, toilet paper and pantry items, such as boxes of pasta and cans of soup. Unlike other big-box retailers and grocers, however, Target is known for its mix of items, from bags of chips to home decor and clothing from proprietary fashion brands, and it has not announced plans to hire thousands of new workers for stores and distribution centers to keep up with demand.
So far, he said the first quarter that began Feb. 2 has had "three distinct chapters:" In the first three weeks, Target's sales and mix of products sold matched expectations. In late February and early March, it saw a spike in traffic -- causing sales to increase by 3.8% at stores open more than 12 months. In March, the retailer saw even higher traffic and sales, but they skewed heavily towards lower-margin purchases like food and beverage and essentials.
"We'll watch the dynamics over time," he said. "We're probably selling a lot more leisurewear and performance and sleepwear than we are some of the style categories because consumers are spending more time at home."
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