Target (TGT) delivered solid results for the second quarter and joins a select few retailers — namely rival Walmart — in saying the COVID-19 Delta variant hasn't led to a marked sales slowdown for the all-important back-to-school shopping season even as consumer confidence has begun to wane.
"While the current environment remains volatile, our results over the last 18 months have proven conclusively that our team and operating model can seamlessly adapt to changes in the environment, and we’re well-positioned to deliver outstanding performance in the back half of the year,” said Target Chairman and CEO Brian Cornell in a press statement announcing its second quarter results.
Here is how Target performed in the second quarter compared to Wall Street profit forecasts:
Net Sales: $25.16 billion vs. $24.51 billion
Comparable Sales: +8.9% vs. +8.2% (Walmart U.S. 2Q21: +5.2%)
