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Target Has A Plan To Reverse Last Year's Poor Holiday Sales

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Target Has A Plan To Reverse Last Year's Poor Holiday Sales

One of the biggest victims of the difficult retail environment throughout the 2016 holiday season was Target Corporation (NYSE: TGT) as both total sales and comparable sales were in the red.

But Target's management team has a different game plan to win the 2017 holiday season by continuing to focus on what appears to be working: exclusive brands, CNBC reported. Target will launch its latest exclusive "Hearth & Hand" collection on Nov. 5, which is backed by Chip and Joanna Gaines, hosts of the popular HGTV show "Fixer Upper."

Target will build a physical space to showcase the brand's tabletop, home decor and giftable items like toy workbenches and dollhouses in 550 stores and configure smaller set-ups in all of the other stores. As a whole, Target will be offering consumers eight exclusive brands that will be available in time for the holiday season.

One of Target's biggest success stories is its Cat & Jack children's apparel brand, which is barely 1 year old and already worth $2.1 billion, CNBC said.

Aside from exclusive brands, Target also increased the number of stores that can fulfill online orders throughout the holiday season from 1,100 last year to 1,400. The company also plans to scrap last year's 10 Days of Deals promotion in favor of a new Weekend Deals campaign, which will focus on everything from household essentials to holiday must-haves.

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Image Credit: Wt90401 at English Wikipedia [CC BY-SA 3.0 (https://creativecommons.org/licenses/by-sa/3.0) or GFDL (http://www.gnu.org/copyleft/fdl.html)], via Wikimedia Commons

Posted-In: Cat And Jack Chip GAines CNBC Department Stores Fixer Upper Hearth And Hand Joanna GAinesMedia Best of Benzinga

 

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