Target (TGT) Unveils Latest Deals For Last-Minute Shopping

Target Corporation (NYSE:TGT) TGT has been deploying resources to enhance its omni-channel capabilities and improve guests’ shopping experience. In a latest development, the retail bellwether has come up with last-minute deals in order to help late-start shoppers get their hands on essentials and gifts in time for the holidays.

TGT makes shopping easier with its free same-day Drive Up and Order Pickup facilities that shoppers can avail through 6 p.m. on Dec 24. These services do not require any membership. Guests can shop in-store, online or via the Target App, and can avail new deals on several gifts across the company’s assortment, running from Dec 19 through Dec 25.

Customers can make orders and avail them via Order Pickup or Drive Up on Dec 24. They can receive their items within a couple of hours without the requirement of a pickup window. Guests can also place orders via Same-Day Delivery with Shipt and have their orders delivered in around an hour, with a final delivery window of 5-6 p.m. Shipt members can get free deliveries while shoppers without Shipt membership can get products delivered at $9.99 per order. The majority of Target's outlets will be closed at 8 p.m. on Dec 24 and will reopen at regular time on Dec 26.

Last-minute top deals include up to 50% discount on select toys and video games; up to 20% off on TVs; up to 40% discount on home theater accessories; up to 45% off on certain kitchen appliances and cookware; and nearly 20% off on select women's and men's cold weather accessories and boots. Shoppers can join Target Circle, TGT’s free loyalty program to earn 1% on each purchase with exclusive offers.

We believe that last-minute offers are likely to grab more customers and boost incremental sales for Target this holiday season.

What’s More?

Target has been enhancing its omni-channel capacities, including same-day delivery of in-store purchases, and has also been accelerating technology improvements. Management has been aggressively adopting strategies to provide seamless shopping experience through miscellaneous channels. TGT is well equipped to serve shoppers, be it curbside pickup or delivery at home.

Notably, the company’s loyalty program, Target Circle, has been gaining traction. Target’s collaboration with Ulta Beauty (NASDAQ:ULTA) has been encouraging. This shop-in-shops concept is expected to reach a total of 800 Target stores, nationwide, in the coming years. So far this year, shares of the currently Zacks Rank #3 (Hold) company have gained 26.1%, while the industry rose 21.2%.

Hot Stocks in Retail

Some other top-ranked stocks are Boot Barn (NYSE:BOOT) Holdings BOOT, Tractor Supply Company (NASDAQ:TSCO) TSCO and Costco COST.

Boot Barn Holdings, a lifestyle retailer of western and work-related footwear, apparel and accessories, sports a Zacks Rank #1 (Strong Buy) at present. The stock has jumped 196.3% in the year-to-date period. You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for Boot Barn Holdings’ current financial-year sales and earnings per share (EPS) suggests growth of 54.6% and 188%, respectively, from the year-ago period’s corresponding figures. BOOT has a trailing four-quarter earnings surprise of 161.5%, on average.

Tractor Supply Company, a rural lifestyle retailer in the United States, currently flaunts a Zacks Rank of 1. TSCO has a trailing four-quarter earnings surprise of 22.8%, on average. Shares of TSCO have surged 65.8% year to date.

The Zacks Consensus Estimate for Tractor Supply Company’s current-year sales and EPS suggests growth of 19% and 23.9%, respectively, from the year-ago period’s corresponding readings. TSCO has an expected EPS growth rate of 10.2% for three-five years.

Costco, a general merchandise retailer, presently carries a Zacks Rank #2 (Buy). COST has a trailing four-quarter earnings surprise of 8.3%, on average. The stock has rallied 21.2% in the year-to-date period.

The Zacks Consensus Estimate for Costco’s current-year sales and EPS suggests growth of 10.7% and 13.2%, respectively, from the corresponding year-ago period’s levels. COST has an expected EPS growth rate of 8.8% for three-five years.

5 Stocks Set to Double

Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2021. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.

Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.