All in Motion, the Target’s line that includes bras, hand weights, and yoga mats reached $1 billion in annual sales, reports CNBC. The sales were boosted by the pandemic as demand for home workouts and work out gear intensified.
- All in Motion is now one of the 10 Target brands that generated $1 billion or more in sales in fiscal 2020
- Target has launched more than 30 private-label brands in clothing, home, and other categories in the past five years to differentiate itself from competitors and boost profitability.
- Target’s same-day services such as curbside pickup and home deliveries by Shipt have boosted sales and stock price, which has gained 63% over the past year.
- The retailer’s digital growth has inspired Stifel to upgrade its rating to “buy” on Monday for a price target of $225, a 16% gain from the current level.
- Analysts are keeping an eye on how Target navigates digital sales after shoppers get Covid vaccines and feel safe returning to malls.
- Target stifled the popularity of Lululemon with its bookings of All in Motion’s workout pants that have seen the company’s market value climb to $94.58 billion.
- Target’s chief merchandising Officer for style and owned brands Jill Sando is confident the company can outpace sales of higher-end athleisure and apparel brands.
Target and Lululemon stocks are currently gaining. TGT: NYSE is up 1.93%, LULU: NASDAQ is up 1.10%.