Target reports record-breaking Black Friday sales backed by strong TV demand

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Sharecast News | 25 Nov, 2016

US retailer Target Corporation announced on Friday that it was set for a record-breaking day in online sales, as televisions and Apple products drove sales.

The store started its deals for Black Friday on Wednesday of this week, with over 3,000 televisions being sold every minute within the first hour of sales starting.

Apple products such as the iPad and Apple Watch also performed well for Target, whose share price was up 1% in trading before the bell on Friday.

"Shopping at Target has become an annual Thanksgiving tradition for millions of our guests, and we're thrilled at the response we’ve seen this year," said Brian Cornell, chairman and CEO of Target in a press release.

"We had a record-breaking day on Target.com and traffic to our stores was strong."

Sales and traffic on the company's website eclipsed that of Cyber Monday 2015, which was the previous record-breaking day for Target.

It also saw a 60% of its online sales being made via mobile devices, a further sign that consumers are purchasing through their smartphones and tablets rather than traditional routes.

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