Target hits the spot

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Target shares soared on Nov. 20 after the retailer delivered strong third-quarter results and raised its profit forecast for the year. The Minneapolis-based retailer said comparable sales, which includes online sales, rose 4.5%. That reflects 2.8% growth in stores open at least a year. Online sales rose 31% in the quarter. Target’s intense focus on both low prices and customer convenience is demonstrating how traditional retailers can compete with, which has upended the retail sector. Target’s shares reached an all-time high of $126.43 on Wednesday, up 14%.

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