Target has slipped to 38 from 36 on the Fortune 500 list, in part because it sold off its pharmacy business to CVS Health. The discount retailer has refocused its efforts on areas like kids’ items, health and wellness and fashion. While overall sales are down, its comparable sales growth – the metric Wall Street tracks much more closely and highly values – has bested those of Walmart thanks in part to that emphasis.
The company is also pushing its smaller-store format to get a bigger piece of the urban market and enjoying soaring online sales. What’s more, Target is making progress ironing out some problems in its supply chain that have led to out-of-stocks. And it recently named a new chief merchant, plugging a major hole in its C-suite.
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