Target bursts into the holiday season with a bang

Published 3:25 am Thursday, November 21, 2019

NEW YORK — Target is bursting into the critical holiday season with strong third-quarter earnings as the company pushes faster delivery and invests heavily in stores and on new fashion brands.

The retailer raised its expectations for the year and shares rose more than 12 percent Wednesday, striking an all-time high.

It was one of the largest one-day stock swings in the company’s history.

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Among the big highlights? Target’s quarterly sales of clothing rose 10 percent year over year, helped by its intense focus on creating new store brands and making its clothing displays more visually appealing with mannequins. The recent fashion lineup includes a men’s clothing brand called Goodfellow & Co. and a lingerie brand called Auden.

Its success comes at a time when department stores are struggling with its fashion assortments.