By Caoimhe Toman
Date: Monday 08 Feb 2021
LONDON (ShareCast) - (Sharecast News) - Activewear line All in Motion is Target's latest brand to generate $1bn in annual sales as consumers turn to workout clothing during the pandemic.
Target launched its own line of workout clothes and exercise equipment about a year ago.
Its sales jumped just two months afterwards, as the pandemic led people to opt for comfortable clothing more suited for working remotely.
"We like to joke about this internally that it's become our guests' favorite work wear, not just workout wear," said Jill Sando, Target's chief merchandising officer for style and owned brands.
The line of clothes All in Motion reached $1bn in sales, the company said Monday. It is one of 10 Target brands that generated $1bn or more in sales in fiscal 2020.
Over the past five years, Target has launched more than 30 private-label brands in clothing, home and other categories. Four of these brands hit $2bn or more in sales in 2020.
With All in Motion, most of its workout clothes and accessories cost less than $30 which, according to CNBC, is about 75% less on average than similar products sold by competitors.
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Currency | US Dollars |
Share Price | $ 97.32 |
Change Today | $ 3.80 |
% Change | 4.06 % |
52 Week High | $160.69 |
52 Week Low | $88.76 |
Volume | 7,822,813 |
Shares Issued | 455.57m |
Market Cap | $44,336m |
Beta | 0.84 |
RiskGrade | 121 |
Strong Buy | 5 |
Buy | 4 |
Neutral | 26 |
Sell | 2 |
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15:59 | 101 @ $97.32 |
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