• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Ex-PepsiCo CEO Indra Nooyi worked from midnight until 5 a.m. as a receptionist to pay for her Yale degree—and she says ‘respect went up’ because of it

2

Shark Tank's Kevin O'Leary says if he were 25 today, he'd chase these two booming opportunities in the world of AI

3

China’s birth rate just hit its lowest point since 1949—and Trip.com cofounder James Liang thinks that’s a threat to innovation

1

Ex-PepsiCo CEO Indra Nooyi worked from midnight until 5 a.m. as a receptionist to pay for her Yale degree—and she says ‘respect went up’ because of it

2

Shark Tank's Kevin O'Leary says if he were 25 today, he'd chase these two booming opportunities in the world of AI

3

China’s birth rate just hit its lowest point since 1949—and Trip.com cofounder James Liang thinks that’s a threat to innovation
RetailTarget

Target’s stores lead the way in its pandemic boom, followed by online growth

Phil Wahba
By
Phil Wahba
Phil Wahba
Senior Writer
Down Arrow Button Icon
Phil Wahba
By
Phil Wahba
Phil Wahba
Senior Writer
Down Arrow Button Icon
May 19, 2021, 4:12 PM ET
Add Fortune on Google for similar content.

Who says physical retail is dying?

Target reported yet another blockbuster quarter on Wednesday, led by a huge increase in sales at its physical stores that was complemented by continued online growth. The chic-discounter said comparable sales rose 22.9% in the first quarter, with most of that attributable to its thriving stores.

That came on top of a 10.9% increase a year earlier, showing how Target has emerged as one of retail’s biggest winners in the pandemic and its aftermath. It’s also well above the 6% clip Walmart reported this week for its U.S. stores. And it illustrates American shoppers’s desire to go spend again, at stores.

Indeed, visits to stores increased 17% year over year, as people’s spending shifted away from emergency stockpiling to a focus on more fun and more normal consumer behavior.

“The first quarter felt like a first step towards a post-pandemic world,” said Target CEO Brian Cornell on a call with Wall Street analysts Wednesday. “With vaccinations rolling out across the country and consumers increasingly comfortable venturing out, we’ve seen an enthusiastic return to in-store shopping.”

But Target was very much the author of its own success yet again. Under Cornell, Target in the last four years has invested billions to beautify and modernize its large fleet of stores with touches such as updated lighting and new wood panels on displays. The company also has equipped stores to serve as nodes in its e-commerce system. Some 95% of its online orders last quarter were filled by stores, either through delivery of merchandise sent from a store or customers picking up items at stores.

Target also has remade its portfolio of store brands, four of which now garner $2 billion in annual sales or more. And their success was central to the quarter’s sales increase: Apparel sales jumped more than 60%, while home goods and small appliances rose by more than 30%. Such items offer higher profit margins, helping Target report a profit of $2.1 billion—about seven times more than a year earlier. Revenue rose 23% to $24.2 billion in the first quarter.

And in a sign of how shopper behavior has changed, sales of food and household essentials grew only modestly, in contrast to a year earlier, soon after the outbreak, when shoppers were stocking up on such items.

The strong results led Target’s stock to an all-time high on Wednesday. Analysts believe the chic-cheap retailer’s hot streak will continue for a long time to come, well after the pandemic truly has receded.

“Quite simply, it is a best-in-class operator,” Neil Saunders, managing director of GlobalData, wrote in a research note. “The pandemic has helped it achieve great heights, but the superlative skill and prowess of the climber has also played a major role.”

Our mission to make business better is fueled by readers like you. To enjoy unlimited access to our journalism, subscribe today.

About the Author
Phil Wahba
By Phil WahbaSenior Writer
LinkedIn iconTwitter icon

Phil Wahba is a senior writer at Fortune primarily focused on leadership coverage, with a prior focus on retail.

See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Retail

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Retail

Chinese tea chain’s $1.5 million trademark infringement loss to Louis Vuitton sparks fight over who owns a flower pattern
AsiaChina
Chinese tea chain’s $1.5 million trademark infringement loss to Louis Vuitton sparks fight over who owns a flower pattern
By The Associated Press and Chan Ho-HimJuly 7, 2026
11 hours ago
Swimmer bitten in suspected shark attack at Jones Beach, prompting brief closure as the U.S. battles record-breaking heat
North AmericaNew York
Swimmer bitten in suspected shark attack at Jones Beach, prompting brief closure as the U.S. battles record-breaking heat
By The Associated PressJuly 7, 2026
11 hours ago
‘Sometimes you get along with the toughest people’: Trump moves to lift Turkey sanctions, clearing the country’s path back to F-35s
PoliticsNATO
‘Sometimes you get along with the toughest people’: Trump moves to lift Turkey sanctions, clearing the country’s path back to F-35s
By The Associated Press, Lorne Cook, Suzan Fraser, Abby Sewell and Seung Min KimJuly 7, 2026
11 hours ago
Landline phone orders spiked 277% this summer. Blame your smartphone bill
Retailsmartphones and mobile devices
Landline phone orders spiked 277% this summer. Blame your smartphone bill
By Vidhi Choudhary and Retail BrewJuly 7, 2026
12 hours ago
Trump said Walmart cut prices at his request, but the company didn’t credit the president in its decision as Trump fights off inflation backlash
RetailDonald Trump
Trump said Walmart cut prices at his request, but the company didn’t credit the president in its decision as Trump fights off inflation backlash
By The Associated Press and Josh BoakJuly 7, 2026
13 hours ago
heat
Commentaryclimate change
McKinsey Global Institute: Climate planning has prioritized floods. Heat demands equal attention
By Sylvain Johansson, Mekala Krishnan, Kanmani Chockalingam and Annabel FarrJuly 7, 2026
16 hours ago

Most Popular

Ex-PepsiCo CEO Indra Nooyi worked from midnight until 5 a.m. as a receptionist to pay for her Yale degree—and she says ‘respect went up’ because of it
Success
Ex-PepsiCo CEO Indra Nooyi worked from midnight until 5 a.m. as a receptionist to pay for her Yale degree—and she says ‘respect went up’ because of it
By Preston ForeJuly 6, 2026
1 day ago
Shark Tank's Kevin O'Leary says if he were 25 today, he'd chase these two booming opportunities in the world of AI
AI
Shark Tank's Kevin O'Leary says if he were 25 today, he'd chase these two booming opportunities in the world of AI
By Marco Quiroz-GutierrezJuly 5, 2026
3 days ago
China’s birth rate just hit its lowest point since 1949—and Trip.com cofounder James Liang thinks that’s a threat to innovation
Asia
China’s birth rate just hit its lowest point since 1949—and Trip.com cofounder James Liang thinks that’s a threat to innovation
By Nicholas GordonJuly 7, 2026
19 hours ago
Current price of oil as of July 6, 2026
Personal Finance
Current price of oil as of July 6, 2026
By Joseph HostetlerJuly 6, 2026
2 days ago
Even as Elon Musk calls philanthropy ‘very hard,’ everyday Americans gave a record $617 billion—despite feeling the squeeze over the cost of living
Success
Even as Elon Musk calls philanthropy ‘very hard,’ everyday Americans gave a record $617 billion—despite feeling the squeeze over the cost of living
By Preston ForeJuly 4, 2026
4 days ago
The man who ran Bernie's campaign says Democrats are still making the same mistakes with Democratic Socialists, and they should laud Mamdani's win
Politics
The man who ran Bernie's campaign says Democrats are still making the same mistakes with Democratic Socialists, and they should laud Mamdani's win
By Catherina GioinoJuly 6, 2026
1 day ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.