- Traditional retailers will be able to maintain their success in the changing consumer landscape going forward, UBS analyst Michael Lasser says.
- He says what's been striking for Wall Street analysts this earnings season is the "breadth of success" among traditional retailers.
Traditional retailers, including Target, will be able to maintain their success going forward as the consumer landscape shifts to digital, one analyst told CNBC on Wednesday.
Michael Lasser of UBS said what's been striking for Wall Street analysts this earnings season is the "breadth of success" among traditional retailers.
"The vibrancy of retail trade areas is coming back to life," Lasser said in a "Closing Bell" interview.
He spoke after big-box retailer Target reported robust quarterly numbers, including the strongest same-store sales growth in 13 years. Since it laid out a strategy at the start of last year, Target has been focused on reinvesting in its business. That strategy included investments in its e-commerce platform.
Target's stock closed more than 3 percent higher Wednesday, at around $85 per share. Target, with a market cap of $45.8 billion, has also seen its share rises more than 31 percent so far this year.
Lasser's firm has a neutral rating on Target. He called its earnings "pretty remarkable."
Walmart reported earnings last week that also topped Wall Street's expectations.
E-commerce giant Amazon, whose stock is up more than 62 percent this year, has been aggressive in its efforts to expand its retail presence and traditional retailers have had to adapt.
In the same CNBC interview, analyst Liz Dunn said Target in particular has done a stellar job with investing in digital and the earnings report shows it's paying off.
"They've sort of reimagined the Target run," said Dunn, founder and CEO of Pro4ma.
— CNBC's Lauren Thomas contributed to this report.