Target sees 100% growth in digital sales, extends wages and benefits for employees
Target says COVID-19 sales have been good for the company's bottom-line and they have also enhanced their team's wages and benefits.
The locally-based company says sales have grown more than 7% in the last quarter. It says there was a slight decline from in-store sales, but the company saw 100% in digital growth.
Target also announced on Thursday that they are extending a temporary $2 an hour wage increase for frontline employees through next month (May 30).
The company will also continue to extend access to free, safe and reliable back-up care for team members and a 30-day paid leave for team members who are 65 or older, pregnant or who have underlying medical conditions as defined by the CDC, through the end of May.
"Our strategy was built to be durable and sustainable in any environment and its strength is driving our business in the face of marked shifts in shopping behaviors caused by COVID-19," said Brian Cornell, chairman and CEO of Target Corporation. "Because of our strong business model, we are able to make considerable investments to support our team, put protections in place, and adjust to serve our guests who are being advised to shelter in place and avoid stores."
"As a result, we are seeing record-setting digital growth, strong demand for our same-day fulfillment services and broad market-share gains across each of our core categories. While this crisis will certainly put near-term pressure on our profitability, that pressure is far outweighed by doing right by our team and our guests. We're confident the actions we're taking today will drive growth and greater guest affinity over the long-term," added Cornell.
To read the full announcement on their updated growth and employees' extensions, click here.