Target’s private label brand A New Day reaches $1 billion in sales
Target Corp. TGT, -0.67% said its women’s private-label brand A New Day reached $1 billion in sales this fall, joining the private-label kids brand Cat & Jack as part of what Chief Executive Brian Cornell called the "billion-dollar club." It reached the $1 billion mark about a year after launching. Target has focused on private brands with more than 20 available for the holidays. In addition to the aforementioned brands for women and children, some of the most recent launches include Heyday, offering electronics items, many under $20; Wild Fable, geared towards young women; and Project 62, a home furnishings brand. With competition from Toys "R" Us gone, Target has also beefed up its toys selection. And, for the holidays, Target is offering free two-day shipping. According to data from Deloitte, 61% of shoppers will buy items that qualify for free shipping this holiday season. Target shares are up 26.7% for the year to date, while the S&P 500 index SPX, -0.55% is up 2.5% for the period.
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