In its second-largest acquisition, Amazon buys the company for $970 million.
Traffic at Target.com is up fourfold over last year and sales are up sevenfold. Target.com will continue to focus on Target`s core products.
Traffic at Target.com is up fourfold over last year and sales are up sevenfold, Gerald Storch, Target’s vice chairman, told the Retail Systems 2001 conference in Chicago this week. Target.com is focusing on Target’s core merchandise of home products, apparel, toys and electronics. Target.com’s goals are to create a profitable selling venture, drive customers to stores, and enhance Target’s brand. It has not yet achieved profitability, Storch said, although it is meeting its other goals. “We continue to see tremendous growth,” he said. “It’s a wonderful way to communicate with our guests.”