10 Best Retail Stocks To Invest In

8. Target Corporation (NYSE:TGT)

Number of Hedge Fund Holders: 49

Target Corp (NYSE:TGT) is a general merchandise retailer that offers an elaborate array of products to its customers. It serves its guests at around 2,000 stores and digitally through Target.com. The company saw healthy traffic growth throughout fiscal Q3 2024, primarily attributed to its focus on delivering strong value and newness.

Target Corp’s comparable sales improved in fiscal Q3 2024, with the primary driver being a 2.4% growth in traffic. This represents more than 10 million incremental transactions compared with last year. The company experienced positive customer response to the thousands of price reductions it introduced earlier in 2024. To continue this trend, it introduced another 2,000 reductions entering the holiday season.

Target Corp’s (NYSE:TGT) digital channel is also undergoing positive growth, increasing by nearly 11% in fiscal Q3 2024. It experienced a nearly 20% growth in its same-day delivery powered by Target Circle 360, primarily attributed to an increase in guests learning about it and responding to the convenience and value it offers. The company also saw double-digital growth in Drive Up in fiscal Q3 2024, accounting for more than $2 billion in the quarter’s sales and reflecting the strength of its digital services. Target Corp (NYSE:TGT) ranks eighth on our list of the best retail stocks to invest in.