Target’s second-quarter sales rose 3.5% to $16.5bn (£10.51bn). Like-for-like sales were up 3.1% on top of a 3.9% gain a year ago. Net earnings remained flat at $704m (£448.6m).
During the quarter, Target added eight new stores, including its first three CityTarget stores. The retailer’s REDcard loyalty scheme penetration reached 12.8% in the period compared with 8.7% a year ago.
Chairman, president and chief executive Gregg Steinhafel said the retailer was very pleased with performance, which he said reflected a continuing focus on delivering an “outstanding experience” for customers and “disciplined execution” of Target’s strategy.
The retailer said it was encouraged by the performance of its CityTarget shops in Seattle, Los Angeles and Chicago.