From a "digital standpoint," Cornell said yesterday was Target's biggest day in company history, with "great traffic" and "double-digit increases in sales." He expects those preliminary results to translate into a positive holiday season for the retail giant.
"I think it's a great time to be a consumer in the United States. Interest rates are still low, we're seeing positive employment trends, fuel prices are extremely low," Cornell said. "I think we're going to see an optimistic consumer throughout the holiday season."
Last quarter, Target saw strong growth in apparel, and home, baby, and kids items, Cornell said. He added that the retailer has been growing market share in apparel for seven straight quarters. Although Target's comparable sales are flat year-to-date, the company's earnings per share are up 10 percent, Cornell said.
A growing number of shoppers are ordering online and picking up at local stores, and more than 1,000 of the company's 1,800 stores are shipping locally to increase delivery speed, Cornell said.