Through some of the biggest consumer demand shifts in living memory, few retailers performed as well as Target (NYSE: TGT) did in 2020. The company leaned on its consumer staples offerings through the early days of the pandemic before quickly recognizing — and capitalizing on — soaring demand for home furnishings and home maintenance products as the year progressed.
The retailer notched impressive profit margin wins, with operating income soaring 35% through late October thanks in part to the popularity of premium fulfillment options like same-day delivery.
That performance has investors feeling optimistic about the business in 2021 and beyond. So let’s look at three big trends to expect from Target this year.