Smart Swimming Caps Market Forecast, Trend Analysis & Opportunity Assessment 2020-2030

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While already soft, sales trends in our discretionary categories softened even more in the last few weeks of the quarter, a trend that’s persisted into the first few weeks of November. Apparel comps were down only slightly in Q3, driven by growth in kids’, men’s, seasonal, and new fashion-forward assortments, offset by softness in swim, women’s accessories, and basics. In home, sales declined in the mid single digits despite strong performance in seasonal areas. While our team has done an excellent job of staying agile and quickly accommodating all of that growth, we now have an opportunity to look from top to bottom across all of our operations to ensure they are fully optimized for the size of our business. We’re still in the process of fully scoping out this effort, but we believe it presents an opportunity to save a total of $2 billion to $3 billion over the next three years in support of our investments in long-term growth along with our profit goals.

And I want to pause and thank the entire Target team for making Target a great place to work and a store that’s ready to bring joy to millions of our guests throughout this season and beyond. For example, by early November of this year, nearly 90% of our key Q4 programs had already moved into our distribution centers and stores. In contrast, last year, just over half our key programs were in the network as pammy’s place fitchburg of the same time frame. Similar to our experience with lead times, we saw improvement across multiple dimensions of our transportation costs in the quarter, even as those costs remain above pre-pandemic levels. Across the operations team, we focus every day on delivering strong execution even as we continue to keep our eyes on and invest in projects that will support Target’s long-term profitable growth.

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