Wednesday was another winner for investors in the three mass market retailers that are killing it in the new normal. Target (NYSE: TGT) posted another jaw-dropping quarterly update in the morning, highlighted by a huge 20.7% surge in comparable-store sales. Target's performance follows a blowout report out of larger rival Walmart (NYSE: WMT) earlier this week. Costco Wholesale (NASDAQ: COST) came through with a strong financial update earlier this month.
Target, Walmart, and Costco were retail winners during the early months of the COVID-19 crisis. They remained open as essential retailers, and were magnetic havens for folks stocking up on food, safety supplies, and stay-at-home wares. However, with most retailers now open and seeing pent-up demand for pre-pandemic pursuits we still see Target, Walmart, and Costco performing at a high level. Shoppers know this, and investors apparently now know this, too.
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For further details see:
Why Are Target, Costco, and Walmart Blowing the Market Away?