Flush consumers boosting retailers
Target Store exterior. Photo: John Greim/LightRocket via Getty Images
Target is the latest retailer to report strong quarterly results — sales growth at stores open for at least one year increased the most in 13 years — thanks to the booming economy.
"There's no doubt that, like others, we're currently benefiting from a very strong consumer environment — perhaps the strongest I've seen in my career."— Target CEO Brian Cornell on the analyst call
The big picture: Walmart, Home Depot, Kohl's, Macy's and Nordstrom have also recently posted strong results thanks to a hot job market that is leading to higher wages and consumer confidence approaching an 18-year high.