'Target's gutsy decision to make its stores the centerpiece of its fulfillment system has turned out to be a brilliant move,' Jim Cramer says.
Same-store sales grew 4.8% and digital sales surged 42% during the three-month period ended May 4. Target was able to boost traffic during a time when many retailers blamed unfavorable weather for weaker sales, Cramer said.
Half of Target's online sales during the quarter were through same-day channels — both Shipt delivery or curbside pickup, the host said. That's up from 28% during the same period the year prior. Target also began scaling its small-store model in 2018 to reach customers in urban regions and draw young shoppers into its buildings. The big-box chain has plans to open 130 of these brick-and-mortar establishments — usually about 40,000 square feet compared to its traditional 100,000-plus-square-foot stores — by the end of 2019."Whenever I go somewhere new, I always hope I'll run into a Target, especially that small-format one," he said.
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