Press
How Target Is Bucking Industry Trends and Growing in Mass Market Beauty
PRESS
October 8, 2024
Beauty’s mass market might be in a state of flux, but Target Corp. is only heading upward.
Per the company’s last earnings call, beauty helped drive a 2.7 percent growth in the second quarter, alongside fashion, with net sales totaling $25.5 billion and beating Wall Street expectations. Within that, beauty rose 9 percent on a comparable basis, on top of double-digit growth a year ago.
The secret sauce is the right brand mix, a bevvy of price points, an integrated digital strategy and a willingness to jump on trends early, said Rick Gomez, Target’s executive vice president and chief commercial officer, in a wide-ranging interview with WWD.
