Target's Major Product Refresh Seen as Spurring Traffic Uptick
Dow Jones08-14 21:24
0924 ET - Target has just executed a major refresh of its product assortment, which Jefferies analysts believe will propel the retailer's turnaround. Since the start of the year, Target has expanded its wellness category, added 3,000 beauty products, reset 75% of home decor accessories and introduced a back-to-school line where 50% of the products are new, the analysts say. "In our view, this represents one of the broadest assortment refreshes in years and is beginning to translate into improved traffic trends," the analysts say. They believe investors are underestimating the traffic benefits Target will get from this refresh.
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