Target sees biggest sales jump in 15 years, but profits take a big hit
MINNEAPOLIS — Target saw its biggest quarterly sales jump in 15 years as the pandemic spurred millions of consumers to order items online and to use its curbside pickup service for the first time.The pandemic also took a bigger-than-expected toll on its profits as sales of higher-margin apparel declined 20% and it had to write down mountains of unsold clothing as consumers dramatically shifted spending to groceries and household supplies.But CEO Brian Cornell said the Minneapolis-based retailer saw a big uptick in apparel sales in mid-April as consumers received stimulus checks.“Apparel certai...
Star Tribune (Minneapolis)
Auto review: VW Atlas Cross Sport has what it takes to run with the best 5-seat midsize SUVs
Volkswagen hit a trifecta with the Atlas Cross Sport five-passenger SUV: Looks, value and features.After struggling to cash in on the SUV boom for years, VW’s model line has caught up with the American customer. SUVs accounted for 52% of 2019 US vehicle sales, over-indexing at 53% of VW’s U.S. business, a radical turnaround from when the German brand struggled with vehicles that were the wrong size, price or both for American tastes.With the appealing Cross Sport on sale now, SUVs’ share of VW U.S. sales should be even higher this year.VW will surely continue to add SUVs — every automaker will...
Detroit Free Press
Ford vehicle sales fell 12.5% in first quarter, F-150 still truck king
DETROIT — Ford Motor Co.’s sales fell 12.5% in the first three months of the year, the automaker said Thursday, following the dismal results of other carmakers who reported their numbers the previous day, as the pandemic closes dealerships across many parts of the country.The sales drop was the largest of the Detroit Three automakers with Fiat Chrysler Automobiles down 10% for the quarter and General Motors Co. off 7% as government-mandated stay-at-home orders and a souring economy slowed buyer traffic to a crawl.But the Detroit truck wars raged on, with Ford maintaining its crown as best-sell...
The Detroit News