Essential retailer status and extensive prior investments in its omnichannel operations have served Target well during these months of pandemic. The retailer had a fantastic holiday season, reporting a 17.2% increase in same-store sales during the months of November and December. As impressive as its sales growth was, it was still slightly lower than the surge Target recorded in the third quarter, raising questions that future quarters will answer: Can the retailer keep its "pandemic gains," or will the vaccine put the brakes on its rapid sales growth?
Target has been one of the bright spots in a hard-hit retail industry. It has reported eye-popping sales growth and $6 billion in market share gains as many other retailers have been pummeled by temporary store closures and even filed for bankruptcy during the pandemic.