Target reports huge boost in sales under new CEO

Stay up to date with notifications from The IndependentNotifications can be managed in browser preferences.Jump to contentThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged inAllNewsSportCultureLifestyleCustomers shop at a Target store in Chicago, Illinois. (Getty)Target recorded its largest comparable sales increase in four years, with a 5.6 per cent rise in the three months to 2 May, ending a run of negative comparable sales. The retailer attributed this better-than-expected performance to increased customer purchases across all categories and successful new collaborations, including with Roller Rabbit. Target has subsequently raised its annual revenue outlook, anticipating continued positive momentum, which saw its shares climb by 1.6 per cent. New CEO Michael Fiddelke, who began in February, expressed cautious optimism about the turnaround plan, a £4.8 billion ($6 billion) strategy focusing on store remodels, brand reputation, and staffing. The company is actively addressing past issues such as dishevelled stores, supply chain problems, and reputational damage from boycotts related to diversity initiatives and its stance on local immigration enforcement. In fullTarget makes a massive comeback under its new CEOThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in

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