Target CEO withdraws forecast: 'None of us know how long this virus is going to last'

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Target CEO withdraws forecast: 'None of us know how long this virus is going to last'
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As Target sees a “surge in business” with people stocking up on items during the coronavirus pandemic, CEO Brian Cornell describes the company’s $300 million investment in its employees.

, customers have come to Target to stock up on cleaning products, toilet paper and pantry items such as pasta and cans of soup. Unlike other big-box retailers and grocers, however, Target is known for its mix of items, from bags of chips to home decor and clothing from proprietary fashion brands, and it has not announced plans to hire thousands of new workers for stores and distribution centers to keep up with demand.

Target's same-store sales thus far in March have been up more than 20% over last year. In the essentials and food and beverage categories, same-store sales are up more than 50%, but this metric is down more than 20% in apparel and accessories. "We're probably selling a lot more leisurewear and performance and sleepwear than we are some of the style categories because consumers are spending more time at home," he said.Target is changing some store operations and policies to minimize risk for customers and employees. Stores will wipe down check-out lanes after each customer transaction and rotate use of them to allow deep cleaning.

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