On Thursday, Target announced an increase in online sales for Target in March and April, offsetting the bulk of the damage from in- stores sales caused by coronavirus lockdowns, although its profits continue to suffer.
The retailer said comparable digital revenues have so far risen over 275 percent in April, with multiple days a month seeing more sales than Cyber Monday, which is traditionally one of the busiest days for e-commerce companies.
Although, the company expects profits in the first quarter to decrease by 5 percent due to pay rises of $2 an hour for shop and service center employees as well as higher sales of low-margin products such as groceries. The organization now plans to pay higher wages until 30 May.
Many retail companies, in particular, clothing chains and department stores, have suffered a big hit from the pandemic, with some of them on the brink of filing for bankruptcy.
The Panthera Post 