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Stimulus checks, reopening economy help Target sales hit the mark

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Reuters

(Reuters) – Target Corp beat estimates for quarterly same-store sales on Wednesday as a strong vaccination drive across the country encouraged shoppers to return to the stores and spend their stimulus checks on home goods, clothes and other items. One of the big beneficiaries of a pandemic-led shopping spree, Target has seen its winning streak spill over into 2021 as the reopening of the economy boosts traffic at its stores, while its e-commerce business continues to draw online shoppers. Comparable sales at stores rose 18% in the first quarter due to a rise in outlet traffic, while digital sa…

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