Target delivered another quarter of strong results, overcoming a slew of challenges from inflationary pressures to congested ports.
FILE - A worker collects shopping carts in the parking lot of a Target store on Wednesday, June 9, 2021, in Highlands Ranch, Colo. Target delivered another stellar quarter of strong results, defying a slew of challenges from inflationary pressures to congested ports. Third-quarter profits in 2021 rose nearly 47%, while sales were up 13.2%, both exceeding expectations, and the Minneapolis company raised projections for fourth-quarter comparable store sales.
Third-quarter profits rose nearly 47%, while sales increased 13.2%, both exceeding expectations and the Minneapolis company raised projections for fourth-quarter comparable store sales. On Wednesday, Target said that inventory levels rose nearly 20% compared with the same period last year.
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