The Strategist

US Target's annual revenues exceed $100B

03/02/2022 - 02:38

Target Corporation, one of the country's top retailers, announced that its revenue for 2021 will hit a new high of $106 billion.

Ser Amantio di Nicolao
Ser Amantio di Nicolao
According to the firm, the amount has increased by more than 35% in the last two years. Last year's net income was $8.9 billion, up 36% from the previous year.

The company attributed its outstanding performance to a rebound in consumer activity following the COVID-19 pandemic's lessening and the relaxation of coronavirus restrictions.

"After еру pandemic, there is still some uncertainty about how quickly people will wish to return to normal. They're now paying close attention to the cost-benefit analysis. At the same time, customers are becoming more interested in new items and experiences," Target CEO Brian Cornell stated on CNBC.

Following presentation of its annual results, Target stock gained 11.6 percent, becoming one of the key drivers of growth in the US stock market during today's trading session.