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By Leslie Patton
Bloomberg
Target Corp.’s third-quarter sales show that pandemic-driven shopping is still surging heading into the holidays.
Comparable sales including e-commerce, a critical gauge of success for retailers, jumped 20.7% from a year earlier, the retailer said Wednesday in a statement. That’s almost double the estimate of 11.6% growth from Consensus Metrix, although down from 24.3% in the second quarter. Profit and gross margin also exceeded estimates compiled by Bloomberg.
Target owns Birmingham-based Shipt and has more than a dozen stores in Alabama.
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