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Target has made a big bet on renewing its own brands—remodeling stores and overhauling its e-commerce efforts. And it has paid off in a big way. The discount chain has emerged as one of the big winners during the pandemic, thanks to its improved grocery offerings and newfound online prowess. Target’s apparel and home goods brands, many of which are quite new, have taken market share away from weakened department stores. And as shoppers begin to return to non-essential items, that land grab is likely to continue, shielding Target to some extent from any prolonged downturn in consumer spending.
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