Target Corp. said that revenue at stores open at least one year rose 4.5% in June as shoppers picked up groceries and seasonal merchandise. The increase was driven primarily by an increase in average transaction size, combined with a smaller increase in transaction counts, the company said.The discount retailer says its grocery category was its strongest performer. Target has been expanding its grocery selection, particularly with investments in its "P-Fresh" fresh-food program. Health and beauty products and clothing basics like tights and underwear were also strong.
Target's total revenue for the five weeks ended July 2 rose nearly 6% to $6.26 billion.
The Minneapolis-based retailer expects July revenue in stores open at least one year to rise in the low- to mid-single digits.
For the quarter-to-date, revenue in stores open at least one year rose 3.8% while total revenue rose nearly 5% to $11.06 billion.
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