Target Corporation’s (TGT - Free Report) has been making constant efforts to boost guests’ shopping experiences. Customers can now avail the company’s contactless same-day pickup and delivery facilities up until 5 p.m. on Christmas Eve. The company made it clear that no membership is required to avail such facilities.
For availing the company’s Order Pickup and Drive Up tools, customers can place their orders till 5 p.m. on Dec 24 to get a free pickup up to the last minute. For Target’s Same-Day Delivery with Shipt, orders will get delivered to consumers’ doorsteps as late as 5 p.m. on Dec 24.
Target's free, quick and contactless Order Pickup and Drive Up services provide various assortments, ranging from gifts and decor to groceries. Its Same-Day Delivery with Shipt offers several products comprising most popular gifts of 2020, groceries, apparel, essentials and more.
In addition, the company’s Drive Up facility is also impressive, as it allows guests to shop via the Target app and get products delivered directly to their cars on arrival at stores. Notably, the company has doubled the total number of Drive Up spots this holiday. It has added about 8,000 more spots for fast service. The company also informed that Shipt added 150,000 customers this festive season in order to serve more customers with smooth same-day delivery options.
We note that the big-box retailer has been deploying resources to enhance omni-channel capabilities, introduce new brands, refurbish stores and expand same-day delivery options to provide a seamless shopping experience. Markedly, the company has been making multiple changes to its business model to adapt and stay relevant in the ever-evolving retail landscape.
Target’s impressive third-quarter fiscal 2020 performance is the testimony of the same, wherein both the top and the bottom lines grew year over year. Notably, comparable sales rose for the 14th straight quarter, gaining from strength in the digital channel as consumers shift to online shopping amid coronavirus-led social distancing. About 75% of third-quarter digital sales were fulfilled by stores.
Same-day services (Order Pick Up, Drive Up and Shipt) surged 217%. Sales fulfilled by Shipt were up nearly 280% year over year and sales through Drive-Up were up more than 500% during the quarter under review. Order Pickup rose more than 50% in the quarter. Digital comparable sales soared 155% and added 10.9 percentage points to comparable sales.
Encouragingly, this Minneapolis, MN-based company’s shares have surged 36.5% in a year while outperforming the industry’s 23.9% rally. Target currently displays a Zacks Rank #2 (Buy).
More Key Picks in Retail
Tapestry (TPR - Free Report) has a long-term earnings growth rate of 11.7% and currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
L Brands , also a Zacks Rank #1 stock with a long-term earnings growth rate of 13%.
TJX Companies (TJX - Free Report) has a long-term earnings growth rate of 10.5% and currently displays a Zacks Rank #2.
Biggest Tech Breakthrough in a Generation
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.
See 8 breakthrough stocks now>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Target Corporation’s (TGT - Free Report) has been making constant efforts to boost guests’ shopping experiences. Customers can now avail the company’s contactless same-day pickup and delivery facilities up until 5 p.m. on Christmas Eve. The company made it clear that no membership is required to avail such facilities.
For availing the company’s Order Pickup and Drive Up tools, customers can place their orders till 5 p.m. on Dec 24 to get a free pickup up to the last minute. For Target’s Same-Day Delivery with Shipt, orders will get delivered to consumers’ doorsteps as late as 5 p.m. on Dec 24.
Target's free, quick and contactless Order Pickup and Drive Up services provide various assortments, ranging from gifts and decor to groceries. Its Same-Day Delivery with Shipt offers several products comprising most popular gifts of 2020, groceries, apparel, essentials and more.
In addition, the company’s Drive Up facility is also impressive, as it allows guests to shop via the Target app and get products delivered directly to their cars on arrival at stores. Notably, the company has doubled the total number of Drive Up spots this holiday. It has added about 8,000 more spots for fast service. The company also informed that Shipt added 150,000 customers this festive season in order to serve more customers with smooth same-day delivery options.
We note that the big-box retailer has been deploying resources to enhance omni-channel capabilities, introduce new brands, refurbish stores and expand same-day delivery options to provide a seamless shopping experience. Markedly, the company has been making multiple changes to its business model to adapt and stay relevant in the ever-evolving retail landscape.
Target’s impressive third-quarter fiscal 2020 performance is the testimony of the same, wherein both the top and the bottom lines grew year over year. Notably, comparable sales rose for the 14th straight quarter, gaining from strength in the digital channel as consumers shift to online shopping amid coronavirus-led social distancing. About 75% of third-quarter digital sales were fulfilled by stores.
Same-day services (Order Pick Up, Drive Up and Shipt) surged 217%. Sales fulfilled by Shipt were up nearly 280% year over year and sales through Drive-Up were up more than 500% during the quarter under review. Order Pickup rose more than 50% in the quarter. Digital comparable sales soared 155% and added 10.9 percentage points to comparable sales.
Encouragingly, this Minneapolis, MN-based company’s shares have surged 36.5% in a year while outperforming the industry’s 23.9% rally. Target currently displays a Zacks Rank #2 (Buy).
More Key Picks in Retail
Tapestry (TPR - Free Report) has a long-term earnings growth rate of 11.7% and currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
L Brands , also a Zacks Rank #1 stock with a long-term earnings growth rate of 13%.
TJX Companies (TJX - Free Report) has a long-term earnings growth rate of 10.5% and currently displays a Zacks Rank #2.
Biggest Tech Breakthrough in a Generation
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.
See 8 breakthrough stocks now>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Get the latest research report on TGT - FREE
Get the latest research report on TJX - FREE
Get the latest research report on TPR - FREE