Target retail chain has achieved higher sales in 2018, due to increased sales in physical locations and online. The company expects further growth in turnover this year.
The total turnover in the financial year closed on February 2 rose by 3.6 percent to $ 75.3 billion. Target posted a net profit of more than $ 2.9 billion, a slight increase compared to 2017. Adjusted earnings per share reached the highest level ever and for this year the Minneapolis company foresees a further increase in underlying earnings per share.
CEO Brian Cornell spoke in an explanation of an excellent year for Target with strong comparable sales growth and more customers. The company has more than 1,800 stores in the United States.
Kohl’s department store chain also came up with better than expected figures. Turnover rose slightly to $ 20.2 billion last year, from $ 20.1 billion a year earlier. Net profit fell by 7 percent to $ 801 million.
Kohl’s expects in-house store sales to rise to 2 percent this year. The company wants to buy 400 million to $ 500 million in own shares.