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Target Q4 Comparable Sales Up 20.5% - Quick Facts

Target Corp. (TGT) reported that its total comparable sales grew 20.5 percent in the fourth quarter, reflecting comparable stores sales growth of 6.9 percent and digital sales growth of 118 percent.

Quarterly same-day services--Order Pick Up, Drive Up and Shipt- grew 212 percent, led by more than 500 percent growth in Drive Up.

The company said it did not provide sales and earnings per share guidance for fiscal 2021 and beyond. In the first quarter of 2020, the company withdrew its guidance, in light of the highly fluid and uncertain outlook for consumer shopping patterns and the impact of COVID-19.

Target noted that it did not repurchase any of its shares in the fourth quarter. The company has resumed share repurchases in fiscal 2021. As of the end of the fourth quarter, the company had about $4.5 billion of remaining capacity under the repurchase program approved by the company's board in September 2019.

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