Target reported a 17.2% rise in comparable sales for the holiday season on Wednesday as online sales more than doubled, thanks to faster deliveries and higher demand for home goods, electronics and beauty products.
Target’s heavy online investments paid off handsomely during the holiday season.
The retailer said Wednesday robust online sales resulted in a 17% increase in comparable sales in the November-December period.
Its digital sales more than doubled.
A big chunk of that growth came from its same-day deliveries and pick-up services.
Demand at its drive-up service whereby customers go to the stores to collect their orders jumped more than six-fold.
Sales at its stores were strong, too.
Traffic rose 4.3% as people combined their shopping trips and limited it to large retailers.
Sales of goods for the home were particularly strong, as were electronics.
Target said it boosted its market share in all five of its core categories.
Deep-pocketed retailers like Target and Walmart are using the disruption amid the health crisis to gain market share from smaller rivals and heavily invest in their online operations.
Target said sales trends in January have been strong so far.
Analysts expect its quarterly comparable sales will jump nearly 13%.
China Sets Aggressive, Economic Growth , Target for 2024.
Associated Press reports that China has
said it aims to achieve 5% economic growth
in 2024, despite facing many challenges.
Premier Li Qiang outlined plans to boost
China's economy while addressing the annual
session of the National People's Congress.
Premier Li Qiang outlined plans to boost
China's economy while addressing the annual
session of the National People's Congress.
The plan includes increased spending on
developing advanced technology, fortifying
the military and other longstanding goals.
According to Li, the Chineses government
would continue with a "pro-active fiscal
policy and prudent monetary policy.”.
The plan looks to boost growth by issuing
long-term bonds over several years,
beginning with about $139 billion in 2024.
Those bonds would be used to
implement "major national strategies"
and boost security "in key areas.".
The plans also include a "new development model"
aimed at easing a prolonged real estate slump
by building government-subsidized housing.
The foundation for China’s sustained
economic recovery is not yet stable,
with insufficient effective demand,
overcapacity in some industries,
weak social expectations, and still
many risks and hidden dangers, Li Qiang, Chinese Premier, via Associated Press.
The foundation for China’s sustained
economic recovery is not yet stable,
with insufficient effective demand,
overcapacity in some industries,
weak social expectations, and still
many risks and hidden dangers, Li Qiang, Chinese Premier, via Associated Press.
According to a draft budget, an additional
$231 billion would be set aside for defense
spending, representing a 7.2% increase from 2023. .
According to a draft budget, an additional
$231 billion would be set aside for defense
spending, representing a 7.2% increase from 2023. .
The underlying trend of economic
recovery and long-term growth
remains unchanged and will not
change. So we must be more confident
and more assured of ourselves, Li Qiang, Chinese Premier, via Associated Press
Credit: Wibbitz Top Stories Duration: 01:31Published
Link Uncovered, Between Forced Prison Labor , and Popular Food Brands, AP Reports.
A former slave plantation in Louisiana that is now
the nation's largest maximum-security prison
reportedly plays a hidden role in the U.S. food chain.
Associated Press reports that men imprisoned at the
Louisiana State Penitentiary are sentenced to hard,
forced labor, often for pennies an hour or nothing at all.
A two-year AP investigation revealed a hidden network
that links forced, prison labor with the world's
largest food manufacturers and popular brands.
A two-year AP investigation revealed a hidden network
that links forced, prison labor with the world's
largest food manufacturers and popular brands.
The investigation revealed that prison workers who
refuse work can lose their chance for parole or
face punishments that include solitary confinement.
Prison workers are also often excluded from protections
granted to nearly all other full-time workers, including
those regarding serious injuries or deaths on the job.
AP reports that goods produced by prisoners were found in
common household products, including Frosted Flakes
cereal, Ball Park hot dogs, Coca-Cola and Gold Medal flour.
AP reports that goods produced by prisoners were found in
common household products, including Frosted Flakes
cereal, Ball Park hot dogs, Coca-Cola and Gold Medal flour.
Products connected with prison labor can reportedly
be found on major supermarket shelves,
including at Kroger, Target, Aldi and Whole Foods.
The 13th Amendment of the Constitution
prohibits slavery and involuntary servitude,
except when it is a punishment for a crime.
The clause that permits forced prison labor has been
challenged at a federal level and efforts are underway
to remove similar language from state constitutions.
AP reports that some prisoners in Louisiana, with one of
the highest U.S. incarceration rates, are working on the
same plantation soil where slaves toiled over 150 years ago.
Credit: Wibbitz Top Stories Duration: 01:31Published
Discover how Walmart, Delta, Starbucks, and other major corporations are reportedly utilizing AI technology to monitor employee communications. Is this the future of workplace surveillance? Learn more about the growing concerns and implications of AI snooping in this eye-opening report.
#AI #AIArt #ArtificialIntelligence #BusinessNews #Walmart #Delta #Starbucks #AITools #CorporateEmployees #Deepfake #Oneindia
~PR.274~ED.155~
Walmart to Add , 150 Stores Across US.
On Jan. 31, Walmart announced that over the course of the next five years, it plans to create over 150 large-format stores, CNBC reports. .
While some smaller locations will be expanded into Supercenters, most of the stores will be brand new.
Walmart CEO John Furner said that 12 new stores will be built this year, and one smaller store will be converted into a Supercenter. .
Walmart currently has over 4,600 stores in America. .
It also operates 600 Sam's Clubs.
30 new Sam's Club stores will
also be added in the U.S.
Meanwhile, Walmart also has plans to renovate
its stores to reflect a more modern look.
CNBC reports that 90% of Americans
"already live within 10 miles of a Walmart.".
The retailer is America's largest private employer with approximately 1.6 million employees. .
The retailer is America's largest private employer with approximately 1.6 million employees.
Credit: Wibbitz Top Stories Duration: 01:30Published
Wall Street's benchmark S&P 500 index closed slightly higher on Wednesday with defensive sectors leading gains as investors waited for details of the next U.S. fiscal stimulus plan and Congress began..