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Target to partner with Barnes & Noble College by Dan DeBaun at Minneapolis/St.Paul Business Journal. “For those campuses that aren’t lucky enough to have one of the new small-format stores, we’re partnering with Barnes & Noble College, which operates nearly 800 college stores around the country, to offer the Target assortment to more than 5 million students,” Tritton said.” Read more
…See Target earnings call highlights below
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**A message from Pirola – Italian made, designer-inspired ironing boards add spice to any home. Exclusively made in Italy for 45 years, these high-quality boards bring design and excitement to the category. Featuring the Arco board from the Design Line and the Luna board from the Plus Line. Custom colors and designs available. Website. Request samples at email@example.com. Italy to U.S. product connection
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Heard on the Call:
Target Q2 Earnings Call Highlights
Second quarter traffic, which was up more than 2% was much stronger than our expectations.
The strength was broad-based across the country, across categories and across channels.
Saw improved performance across each of our 5 broad merchandising categories: apparel, home, food and beverage, essentials and hardlines.
- 4 of those 5 saw comp increases in the second quarter, while comp sales in food and beverage were flat.
Saw really strong positive comps in adult beverages and produce in the second quarter.
Saw a meaningful increase in the percent of our business done at regular price and a meaningful decline in the percent on promotion.
Target’s digital sales grew much faster than industry in the second quarter, up 32% on top of 16% growth last year.
Cat & Jack just crossed the $2 billion mark only slightly more than a year after its launch.
(Delivery test) The value of the average basket for these same day delivery orders is more than 6x the store average at the Tribeca store and contains nearly 4x the units compared with the stores typical basket.
Also notable home is the most common category in same day delivery transactions, ahead of essentials and food and beverage.
We plan to expand the same day delivery test to several other New York City locations in the fall.
We are continuing to see average sales (lifts) in line with our plan to deliver a 2% to 4% sales lift in remodel stores.
For 2017, we are still on track to deliver our plan to add nearly 30 new small format stores.
Guest experience scores in our pharmacies have been climbing since the CVS conversion and are now running well ahead of our pre-conversion levels.
I didn’t talk a lot about it, but we have tests going on in multiple parts of the country, focused on taking work out of the store.
In hardlines, comparable sales grew between 3% and 4% in the second quarter, the strongest performance we have seen in 10 years.
Toys grew more than 3% with board games continuing to be a strong highlight.
We came to the year with the number one market share in swim and have extended that lead to become the clear destination for swim in the U.S.
In produce, we saw high single-digit comp increases in the second quarter driven by even stronger growth in organics.
Adult beverage, we saw ongoing double-digit comp growth.
(Partnering) with Barnes & Noble College which operates nearly 800 college schools around the country to offer the Target assortment (to) more than 5 million students.
We are launching our latest Star Wars assortments on September 1, which is being dubbed Force Friday.
- And to celebrate, we will be opening at midnight in 500 stores across the country.
We had really strong showing in Q2 on the iWatch.
We announced this month the addition of Blue Buffalo to our assortment, which is the number one brand in the U.S. and a really core assortment to get.
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