When Santa comes down the chimney next month, don’t be caught barefoot.

There are lots of fun ways to keep your feet warm and cozy this holiday season, from novelty Kris Kringle looks to classic slipper styles in Rudolph-inspired red.

For those who may not be ready to slip into an ugly holiday sweater, fun slippers are another way to express your spirit and style. And since they’re worn in the privacy of one’s home, you can feel freer to indulge in these whimsical looks.

For the elf in everyone, Target has slippers that take the look literally — with a turned-up toe. Don’t forget Santa’s reindeer, who show up in a cozy printed version from shopping channel Evine.com and Vans.

Macy’s PJ Couture reindeer slippers, $19.50.

For those not ready to go full throttle into the holiday season, there are also more conservative looks that give a nod to the season through color, such as a red bootie from Spring Step and suede moccasin by Ugg.

Ugg Poler shearling cuff slipper, $130.

These holiday looks also make a fun gift to find wrapped up under the tree or to receive as a gift by overnight guests.

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The FDRA’s 2016 National Holiday Shoe Sales Survey confirmed that a significant number of shoppers will head online this holiday season in search of shoes. But the reasons behind their decision may surprise some.

Roughly 22 percent of the 4,000-plus people who participated in the FDRA’s survey indicated that they intend to shop for footwear on the web; however, contrary to what some experts have said, most shoppers aren’t taking the digital route simply to avoid long lines and traffic at their local malls.

The survey found that the almighty dollar will be driving force behind people’s decision to shop online this season. Specifically, the FDRA said 33 percent of survey respondents indicated that the main reason they were shopping online was for better prices. The ability to compare prices (selected by 32 percent) and a larger merchandise selection (indicated by 24 percent of participants) are also major drivers behind the choice to shop online. Only 9 percent said they were specifically shopping online to stay away from crowded stores.

When it comes to just how much — or how little — they’re hoping to spend, more than half of shoppers, or 51 percent, said they are looking to spend less than $100 for their online footwear purchase. An additional 38 percent are planning to spend upward of $250. Only 4 percent of respondents said they were planning to exceed $500 this year.

The good news for retailers is that fewer shoppers this time around are feeling the need to trim their budgets. About 36 percent of respondents said they were going to spend more on shoes this holiday season than in 2015. Still, the budget-conscious crowd is not far behind: 33 percent said they were planning to spend less this holiday season, while 30 percent said they were going to spend the same as they did last year.

As for retailers who will nab the largest share of consumer wallets, 22 percent of respondents said they would be purchasing on a “brick-and-click” retailers website, such as Nordstrom, Foot Locker Inc. or Target Corp. Branded websites are also picking up steam, with 16 percent of respondents indicating that they plan to purchase directly from a shoe brand’s website.

Building on the massive success of its playful Cat & Jack fashion brand, launched in the fall, Target has now unveiled another new children’s collection: Art Class.

And this time, the retailer put kids in the designer’s seat, tapping a group of 10 mini influencers to help create the inaugural collection. Dubbed the Class of 2017, the group includes 7-year-old Instagram star Haileigh Vasquez, 10-year-old dance phenom Aidan Prince (better known as Bahboy), 8-year-old surfer Steve Roberson, 13-year-old YouTube sensation Johnny Orlando and 7-year-old photographer Hawkeye Huey.

The group of 10 kid influencers, tapped to help design Target’s new Art Class collection.

Together, the kids helped set the style direction for the line, which includes a colorful mix of shoes, dresses, graphic tees, shorts, knit jogger pants and more. Each kid also designed two exclusive pieces of their own. Trend-driven capsules featured within the collection include the sporty “Boot Camp,” the boho-inspired “Havana” and the So Cal-influenced “Skate Street.” With prices ranging from $6 to $25, the complete Art Class collection is available now in Target stores nationwide and online at Target.com.

More looks from the Target Art Class collection.

“Over the past year, our teams have reimagined our assortment for kids with new brands including Pillowfort and Cat & Jack,” said Michelle Wlazlo, SVP of apparel and accessories for the Minneapolis-based chain. “Art Class gives kids the ability to have fun with their fashion, creating looks that are truly their own and truly original.”

A sporty jogger pant and jacket for girls.

Many of the Class of 2017 influencers took to their social media channels to show off the designs they dreamt up. Vasquez gave her more than 130,000 Instagram followers a behind-the-scenes peek at her working with the Target team, and she also showed off her original pieces on the rack in her local Target store.

Prince posted a picture on Instagram, highlighting the perfectly sized cellphone pocket on the pants he designed.

To keep the excitement going, Target plans to collaborate in the future with new groups of kids, representing an eclectic mix of talents, interests and hobbies. New limited-edition Art Class capsules will roll out in stores on an ongoing basis, so keep an eye out.

Target Corp. continues to aggressively expand its retail footprint.

Its next bullseye? New York’s bustling 34th Street, right across from department store giant Macy’s Herald Square flagship. The Minneapolis-based chain has leased 43,000 square feet of space at 112 W. 34th Street for a small-format store that is slated to open in October. The new store — one of 30 nationwide openings planned by Target this year — will anchor a larger, 92,000-sq.-ft. complex that also will house Foot Locker, Swatch and Sephora locations.

Inside the vestibule of Target’s Midtown Manhattan store.

Target already operates two other Manhattan stores, one at East River Plaza in Harlem and the other in the trendy Tribeca neighborhood. Additionally, the company has previously announced plans to roll out several other small-format stores in the city, including sites in the East Village (projected to open in summer 2018) and Hell’s Kitchen (slated to open in 2019).

The two-level Midtown store will feature modern décor elements such as concrete floors, wood-plank walls and ceilings, pendant and LED lighting and elevated product assortment displays. A 34th Street entrance will showcase the retailer’s apparel and accessories merchandise, while a 33rd Street entrance will offer grab-and-go food and beverage items, as well as a CVS pharmacy.

LED display screens will be featured throughout the new store.

Shoppers will be able to utilize Target’s Order Pickup service, giving them the ability to buy online and pickup in store, with orders ready within an hour.

“The addition of the Herald Square store location is exciting for Target as we expand our footprint with small-format stores in Manhattan,” said Mark Schindele, SVP of properties for Target. “Not only will we be able to serve the thousands of working professionals who travel through Herald Square each day, but we’ll have the opportunity to showcase Target’s exclusive brands and compelling offers for the many tourists from around the world who shop in this vibrant neighborhood in Manhattan.”

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Online business is soaring at Wal-Mart Stores Inc.

The largest retailer in the U.S. — which has substantially ramped up its digital efforts in recent months — released first-quarter results today that showed significant e-commerce gains as well as modest year-over-year improvements in overall sales.

E-commerce sales at Walmart skyrocketed 63 percent during the period, while gross merchandise volume rose 69 percent.

The retailer — which snapped up Jet.com in August 2016 and footwear e-tailer ShoeBuy in January 2017 in an apparent bid to go after Amazon — said the majority of its digital growth was organic through Walmart.com. (Walmart paid $70 million for ShoeBuy, $3 billion for Jet and bought brick-and-click outdoor retailer Moosejaw in February for $51 million. It also picked up the Shoes.com domain in April 2017.)

“We’re moving faster to combine our digital and physical assets to make shopping simple and easy for customers,” Walmart president and CEO Doug McMillon said in a release. “Our plan is gaining traction, and I want to thank our associates for their hard work, ingenuity and commitment to our customers. Our customers have choices, and we have to earn their business with every interaction.”

Walmart’s total Q1 sales advanced 1.4 percent year-over-year, to $117.5 billion. On a currency-adjusted basis, revenues rose 2.5 percent, to $118.8 billion.

Net income fell 1.3 percent, to $3 billion, or $1.00 per diluted share, but topped forecasts for earnings per diluted share of 96 cents. (Earnings per diluted share advanced 2 percent year-over-year.)

Walmart U.S. comp sales increased 1.4 percent during the period, driven by a traffic increase of 1.5 percent, according to the company. Comp traffic increased 3 percent on a two-year stacked basis.

Net sales at Walmart International were $27.1 billion, a decrease of 3.5 percent. However, excluding currency fluctuations, net sales were $28.3 billion, an increase of 0.8 percent.

Walmart’s upbeat results follow those of competitor Target Corp., which released better-than-expected first-quarter earnings Wednesday. Target reported its same-store sales fell 1.3 percent, a narrower decline than the 3.7 percent market watchers had forecast. Target’s adjusted earnings, at $1.21 a share, also outpaced analysts’ expectations for earnings of 91 cents per share. Meanwhile, revenue fell 1.1 percent, to $16 billion, which was again higher than the $15.62 billion analysts projected

As of 11 a.m. ET, Walmart shares were up more than 2 percent, to $76.82.

Two years after a data breach impacted about 40 million of its customers during the 2013 Christmas shopping season, Target Corp. reached an $18.5 million settlement with 47 states and the District of Columbia.

The deal — the largest multistate data breach settlement ever reached, according to a statement by several states’ attorneys general today — will resolve the states’ investigation into the breach.

“Families should be able to shop without worrying that their financial information is going to get stolen, and Target failed to provide this security,” said California state Attorney General Xavier Becerra, whose state will be receiving more than $1.4 million from the settlement, the largest share of any state.

He added, “This should send a strong message to other companies: You are responsible for protecting your customers’ personal information. Not just sometimes — always.”

Among the terms of the settlement, Target is required to formulate a “comprehensive information security program” and employ an executive or officer responsible for implementing and maintaining the program — actions that the retailer has already taken.

In addition to negatively affecting Target’s sales and profits, the 2013 data breach also led to the resignation of the company’s president, chairman and CEO Gregg Steinhafel.

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A proposed 20 percent import tax — dubbed the border adjustment tax — continued to be a source of contention among retail executives and lawmakers at a hearing on Capitol Hill today.

Target chairman and CEO Brian Cornell and former Walmart U.S. president and CEO William Simon shared opposing views on the new tax, which has been widely opposed by the retail industry, including the National Retail Federation and trade organizations the Footwear Distributors & Retailers of America (FDRA) and the American Apparel & Footwear Association (AAFA).

At today’s hearing before the Ways and Means Committee, Target’s chief prefaced his testimony by noting that he believes the current tax code is “broken” and that “the status quo is unacceptable.” However, he went on to say the BAT would take a significant toll on American families.

“Under the new border adjustment tax, American families — your constituents —would pay more so that many multinational corporations would pay even less,” he said. “85 percent of Americans shop at Target every year. We believe this new tax would hit families hard, raising prices on everyday essentials by 20 percent.”

He added, “I can’t sign up for a plan that would stick American families with that bill or double their tax rates — a plan that would stifle our investment in America.”

Conversely, Walmart’s former U.S. chief saw potential upside to the BAT, if “properly implemented.”

“I have weighed the considerable challenges this proposal presents to retail with the significant benefits it will deliver to the economy as a whole, and have concluded that properly implemented, it is in the best interest of our country for this to be considered,” Simon said. (Walmart, now helmed by CEO Doug McMillon, has publicly spoken out against the BAT.)

Simon suggested that he believed the tax could meet its intent of boosting domestic manufacturing jobs.

“Manufacturing jobs in the country — and around the world — have always represented a pathway to the middle class,” he explained. “There’s a reason the middle class has struggled in this country recently, and it’s the same reason we’ve seen middle classes emerge in global markets. And that is because the manufacturing base has moved, and with it the jobs have fallen.”

Simon’s views, however, are generally at odds with those of the retail industry.

In comments submitted to the Ways and Means Committee ahead of today’s meeting, the AAFA reinforced its opposition to the BAT provision included in the House Republicans’ “A Better Way” tax blueprint. Most notably, the organization said the tax would have a “massive inflationary impact” on the fashion industry and “trigger devastating job losses.”

“With approximately 98 percent of all clothes and shoes imported, a border adjustment that eliminates the ability to deduct the cost of imported goods sold from income tax calculations would translate to an additional 20 percent (or 25 percent in the case of pass-through corporations) tax on clothing and shoes,” the AAFA wrote in the comments. “With an industry that faces low margins, especially on lower-priced products, this tax would pass through to the consumer – raising prices by as much as 20-25 percent.”

Following the hearing, FDRA president and CEO Matt Priest expressed similar concerns about the controversial tax, referring to the BAT as a potential measure that is “based on academic theory, not real world experience.”

“We are deeply concerned that House leaders continue to advance the controversial BAT that would hit consumers with a $1.2 trillion tax hike and drive up shoe prices for working-class individuals and families,” Priest said. “As Target CEO Brian Cornell made clear to the committee in his testimony today, the BAT will harm American consumers and create uncertainty for American businesses that we rely on for job creation … FDRA stands ready to work with Congress on tax reform that will grow our economy, but we reject the idea that Congress should lower corporate rates by imposing a new BAT tax on everyone who buys and sells shoes.”

Out with the old, in with the new — Target is making over its fashion departments with major changes that include axing two of its most recognizable brands, Mossimo and Merona, for more than 12 new exclusive labels.

The retailer announced the phaseout strategy will take place over two years and introduce niche lines in décor and fashion categories, according to The Wall Street Journal.

For fall, four new only-at-Target labels will debut, including A New Day, Goodfellow & Co., JoyLab and Project 62.

A New Day is a mix-and-match women’s brand that offers “a modern take on a classic aesthetic and incredible prints and patterns,” according to a statement. A teaser image of the line showcases a pointed-toe velvet slip-on shoe among trousers, dresses, jackets and purses.

Meanwhile Goodfellow & Co. is described as a “modern-meets-classic line of men’s clothing, accessories and shoes” that will debut in September. A brown lace-up boot is included among jeans, cardigans, khakis and jackets in a preview photo.

Styles by Target’s Goodfellow & Co. men’s line.

“Our new brands are all about the changing face of our guests — what they need, what they’re looking for from Target,” said Mark Tritton, executive vice president and chief merchandising officer.
“When we took a close look at our existing assortment with this in mind, we saw a disconnect. We knew we’d need to refresh our offerings — and define new ones — so our guests continue to love what they’re discovering at Target and want to keep coming back, again and again.”

Target tested waters last year when it launched Cat & Jack as its exclusive children’s fashion line. “We’ve seen phenomenal results — not just in sales, but in loyalty, basket size and overall preference for Target,” Tritton added. “Cat & Jack is now one of our biggest owned brands and is a leader in the U.S. kids’ apparel industry.”

Styles from Target’s A New Day women’s brand.

Target’s approach comes as other retailers strategize amid shifting consumer behavior and preferences. In fact, Target competitor Walmart has made a play for more influence in footwear and fashion categories with the acquisition of several brands as a way to take on e-giant Amazon.

On the heels of Walmart’s aggressive moves, Target has been under immense pressure to step up its business strategy and spur new growth. The addition of the new brands — as well as the axing of poor-performing ones — is likely a step in that direction.

New and exclusive private-label brands, better digital and brick-and-mortar cohesion and a focus on fine-tuning pricing and promotions may have created the secret sauce for Target Corp. in the most recent quarter  —  driving its store traffic up more than 2 percent amid industrywide declines.

Investors are giving a boost to the retailer’s shares this morning on the heels of its solid second-quarter performance that has offered a glimmer of hope in a pressured retail environment. As of 10:50 a.m. ET, shares remained up nearly 3 percent at $55.89.

Target’s Q2 sales improved 1.6 percent year-over-year to $16.4 billion. Analysts had expected sales of $16.3 billion. Comps also bested estimates, gaining 1.3 percent year-over-year.

Meanwhile, profits declined 1.2 percent to $672 million, or $1.22 per diluted share. But on an adjusted basis, diluted earnings per share were $1.23, handily topping forecasts for diluted EPS of $1.19.

Target chairman and CEO Brian Cornell told investors the company’s traffic improvements were “broad-based across the country, across categories and across channels.”

“And while the consumer and competitive environment remain choppy, better-than-expected performance occurred throughout the quarter and wasn’t limited to a short period within the quarter,” Cornell added. “With better second-quarter traffic, we saw improved performance across each of our five broad merchandising categories: Apparel, Home, Food and Beverage, Essentials and Hardlines.”

Target — which in July announced its plan to discontinue several of its exclusive brands and add 12 new and niche ones — has accelerated its development and rollout of exclusive labels following the launch of Cat & Jack among other private brands last year. (Just a year and a half since its launch, Cat & Jack’s revenues have already crossed the $2 billion mark, according to Cornell.)

Cornell said the retailer — which has been on the radar of market watchers in the wake of Amazon’s and Walmart’s aggressive wheeling and dealing — is making progress on several areas, including reining in promotions and expanding digital, which grew 32 percent during the period.

“As a result of our comprehensive effort by our team to reduce friction and increase the reliability of our digital operations, we have seen meaningful declines in guest contact center activity related to digital,” Cornell noted. “This is a tangible reflection of our work to create a stable digital platform and successful collaboration between our digital, operations and merchandising teams to create a more cohesive experience for our guests.”

To build on the momentum, the retailer is testing and rolling out additional fulfillment platforms, including Target Restock, a next-day delivery option for everyday essentials.

Wal-Mart Stores Inc. today posted second-quarter results that topped Wall Street’s top- and bottom-line estimates. Amid sluggish brick-and-mortar trends, the retailer also pulled off a 1.8 percent comp gain evidencing that its store traffic is on the rise. (Reported comp gains are for Walmart U.S.)

Still, investors have been selling off the stock throughout the morning trading hours — as of 10:50 a.m. ET, shares remained down more than 2 percent at $79.28.

Walmart’s earnings — showing a sales improvement of 2 percent year-over-year to $123.4 billion, against bets for sales of $122.8 billion — follows an upbeat release Wednesday from competitor Target Corp.

While Target saw modest share gains on the heels of its Q2 report, the fate of Walmart’s stock today has been similar to that of department stores Kohl’s Corp. and Macy’s Inc., which saw their stocks tumble despite a solid second-quarter performance.

Overall caution around the future of retail, beat-and-raised-minded investors and marketwide uncertainty surrounding President Donald Trump — and his two newly disbanded CEO led advisory councils — are among the likely culprits. (Macy’s and Kohl’s kept their guidance in tact following their earnings release.)

Nevertheless, Walmart said its digital business is booming: E-commerce at Walmart U.S. grew 60 percent during the period, and gross merchandise volume increased 67 percent.

“Our strategy is to make every day easier for busy families — to accomplish this, we continue our transformation to become more of a digital enterprise that moves with speed and agility,” president and CEO Doug McMillion told investors during a conference call today. “I’m encouraged by innovation in the business.”

McMillon said the firm is continuing to test associate delivery of Walmart.com orders in a few stores and, by the end of the year, plans to have approximately 100 automated pickup towers in stores across the U.S.

During the second quarter, net income declined 23 percent to $2.9 billion, or 96 cents per share. On an adjusted basis, earnings per diluted share were $1.08, modestly beating analysts’ forecasts for diluted EPS of $1.07.

Walmart increased its EPS forecast for the fiscal year and expects reported EPS of $4.18 to $4.28 and adjusted EPS in the range of $4.30 to $4.40, compared with previous guidance for adjusted EPS of $4.20 to $4.40.

“We’re encouraged with the solid first-half results,” McMillon said. “We’re uniquely positioned to deliver the seamless, fast, innovative and exciting shopping experience our customers desire.”

Walmart and Amazon’s battle for retail dominion might be well-publicized, but that doesn’t mean Target isn’t waging its own fight.

The Minneapolis-based retailer — which announced last week that it would boost its number of planned store remodels, from 600 to 1,000 — is pulling out all the stops to gain an edge this holiday season.

Target today announced a range of initiatives for the holidays — including the unveiling of new brands, digital innovations and unique in-store experiences — aimed at luring shoppers and staking its territory in the midst of retail disruption. (The company also previously announced that it would hire about 100,000 seasonal employees.)

“While there’s an incredible amount of change happening across retail, we’re focused on doing what’s best for our guests and leaning into what makes Target special, particularly during the holidays,” said chairman and CEO Brian Cornell. “We’re making progress against our long-term strategy and entering the season with momentum. Our team of more than 400,000 is ready to deliver joy to our guests all season long with more new and exclusive brands than ever, thousands of unique gifts at a great value, faster and more convenient ways to shop and save, and engaging holiday experiences in our stores across the country.”

Here, we outline five new things you can expect when you shop at Target this holiday season.

Gifts Under $15

Target will feature a curated gifting assortment — in stores and online — with nearly 1,700 products, most of which will be priced under $15.

Foolproof Presents

To take some of the guesswork out of gifting, Target said it will introduce GiftNow on Target.com. The service allows gift givers to click the GiftNow button on products on the site and send an e-gift box, which allows the recipient to accept the gift, change the color or size, or choose something entirely different, before it ships. Thousands of products can be ordered through the platform.

Weekend Specials

Target will introduce Weekend Deals “to align with the purchases guests are making while stocking up on everyday essentials and holiday must-haves.” The program will run Saturdays and Sundays, beginning Nov. 11. Specific deals will be shared at a later time.

In-Store Soirees

The retailer said it has several engaging in-store experiences lined up this holiday season. For example, most stores will offer a photo booth — putting “a twist” on a traditional photo with Santa throughout December. Also on weekends during that month, shoppers can sample holiday treats, participate in interactive demonstrations with toys, a “Star Wars” event and more at select stores.

Eight New Brands

Target previously announced that it was reimagining its brand portfolio with the introduction of 12 new and exclusive brands by the end of 2018. Eight of those brands — spanning baby, kids, women and men’s apparel and accessories and home — will be available for the first time this holiday season.

The time has come for retailers to pull out all the stops to nab their share of the multi-billion-dollar holiday sales pie.

And, Walmart — the largest such company in the U.S. — is not to be outdone.

The retailer today unveiled its plans to lure droves of shoppers into its more than 5,000 U.S. stores and to its e-commerce site.

Here, we round up four big things you can expect if you shop at Walmart this holiday season.

In-Store Shindigs

Walmart is looking to create a more festive in-store experience by throwing more than 20,000 holiday parties at its Supercenters. In total, three themed parties will be thrown at Walmart stores across the season, including: “Toys that Rock” (Nov. 4); “Parties that Rock” (Dec. 2); “Gifts that Rock” (Dec. 16). The company will also host 165,000 product demos so customers can test and taste top items.

Way More Items

The retailer has tripled the number of items available on Walmart.com compared to the previous holiday season. Walmart is also offering several new brands in stores and online, including Yankee Candle, KitchenAid and Bose.

Free Two-Day Shipping

For the first time this holiday season, Walmart is offering more than two million items for free two-day shipping — without a membership fee — on orders over $35. The company is also offering its “Pickup Discount,” a feature that provides extra savings to customers who shop the retailer’s several thousand online-only items and ship to a store.

Extra Hands on Deck

Walmart is bringing back its “Holiday Helpers” — associates who don festive reindeer hats and assist customers in the front of the store at checkout. — but with an expanded role.

Walmart said these associates will now provide support in its pickup and other popular departments, such toys and electronics. The retailer will also increase the number “Holiday Helpers” to meet this additional function.

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Shoppers will be browsing for footwear online this holiday season, and in order to lure and maintain consumers, seamless digital experiences are paramount. Enter VendorSCOR. Developed by e-commerce platform Content Analytics, the solution aims to improve product content to boost sales.

The program combines analytics, reporting and content management onto one platform, which enables retailers to monitor product and notify brands of simple fixes that can improve results.

With VendorSCOR, footwear retailers can send brands customized scorecards, notifying them about the relevant product content in need of attention and editing. Based on that, brands can optimize their content on product pages, leading to superior website quality, better customer experiences and higher conversion rates overall — as well as stronger relationships between retailers and brands.

Target is among the first retailers to use VendorSCOR cards in order to prepare for its upcoming holiday season. “As a trusted retailer, we need to ensure that our guests have a consistent brand experience both in-store and online,” stated Michelle Winter, director of product content at Target. “Content Analytics enables us to optimize our digital content, giving the guest the product information they need, when they need it, to feel confident shopping with Target.”

Kenji Gjovig, VP of partnerships and business development at Content Analytics, noted that combining analytics with content management is key to survival in today’s demanding retail landscape. “Retailers like Target recognize the need for quality product content, but with an overwhelming set of priorities and a massive amount of data, it can be difficult to ensure every product’s content remains optimized and up-to-date,” he said. “If retailers don’t provide consumers with the information they need to make a purchase, they’ll simply go to one that will.”

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Shares for Target Corp. are sinking today — down nearly 10 percent to $54.29 as of 11 a.m. ET — after the company announced third-quarter results, which included a disappointing holiday forecast.

The retailer’s Q3 performance topped estimates across the board with a sales gain of 1.4 percent to $16.7 billion, besting forecasts for sales of $16.6 billion. Comparable sales edged up 0.9 percent.

Profits fell 21 percent during the period to $480 million, or 88 cents per diluted share. But on an adjusted basis, diluted earnings per share were 91 cents, topping Wall Street’s bets for adjusted diluted EPS of 86 cents.

But looking ahead, the retailer — which this month unveiled a holiday strategy that includes extensive promotions and a focus on in-store order fulfillment — offered a fourth-quarter outlook that missed forecasts. (Target said it now has ship-from-store in more than 1,400 locations.)

During the all-important holiday selling season, Target said it expects comparable sales growth of flat to 2 percent. That performance would translate into full-year 2017 comparable sales growth of flat to 1 percent. Q4 adjusted EPS is expected in the range of $1.05 to $1.25 — missing the average Wall Street bet for EPS of $1.24. For full-year 2017, the company said it now expects EPS of $4.38 to $4.58 and adjusted EPS of $4.40 to $4.60, compared with prior guidance of $4.35 to $4.55 and $4.34 to $4.54, respectively.

Despite the downward adjustments, on a conference call with investors, chairman and CEO Brian Cornell maintained an optimistic posturing on the company’s Q4 prospects — highlighting several strategies that he expects will spur growth.

“In more than 100 of our stores, guests will be enjoying a newly transformed environment this holiday season, courtesy of this year’s remodel program,” he said. “Also, in nearly 30 local neighborhoods across the country, guests will be able to enjoy their holiday shopping in a nearby Target store for the first time.”

Target’s chief also noted the buzzed-about launch of eight new and exclusive brands on Target.com and in stores, which the company has been banking on to lure in shoppers after discontinuing several other brands.

“While the fourth quarter is always intensely competitive, we are entering this holiday season with lots of confidence, enabled by this year’s investments and the tireless efforts of our team,” Cornell said.

The verdict is in: Retail’s revolution will be digitized.

Early reads of Black Friday and Thanksgiving sales results across retail evidence the ongoing consumer shift to online shopping. According to data from Adobe Analytics, which tracks the 100 largest online stores, U.S. retailers generated a record $7.9 billion in online sales on Black Friday and Thanksgiving, an 18 percent gain over the prior year.

To boot: Today’s Cyber Monday rush could be another record breaker, forecast to generate $6.6 billion in sales, according to Adobe.

While brick-and-mortar sales — which have been tepid in recent years amid the online shopping boom — have yet to come in, many traditional sellers placed significant efforts behind their omnichannel strategy to tap into the digital momentum. Retailers such as Walmart and Target notably optimized their online pickup features — making it more convenient for shoppers to make the most of both sides of the business — while department stores such as Nordstrom and Macy’s touted online deals in addition to in-store specials.

Still, retail sales-tracking company ShopperTrak found that shopper visits on Black Friday and Thanksgiving slipped a combined 1.6 percent when compared with the same days in 2016. Brian Field, senior director of advisory services for ShopperTrak, said the modest brick-and-mortar decline is actually proof that physical stores are still a viable part of retail.

“There has been a significant amount of debate surrounding the shifting importance of brick-and-mortar retail, and the fact that shopper visits remained intact on Black Friday illustrates that physical retail is still highly relevant, and when done right, it is profitable,” Field said.

Looking ahead, ShopperTrack’s data indicates that eight of the 10 anticipated busiest shopping days still remain, including Super Saturday, which will fall on Dec. 23. Saturday, Dec. 16 is expected to be the third-busiest day of the season, behind Super Saturday and Black Friday, which is No. 1.

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Target has debuted the first of its new concept stores, part of the brand’s efforts to revamp more than 1,000 of its locations.

The first redesigned door opened in Richmond, Texas, in November — and it boasts several new key features. The makeover includes two separate entrances for increased convenience, more digital technology usage by employees and larger windows.

The first entryway will allow shoppers to quickly grab food and beverages, with additional self-checkout lines. It will surround consumers with Target makeup and clothing, according to the retail giant. The other entryway will cater to those hoping to shop at a more leisurely pace.

The new stores also will feature revamped parking spots, with some reserved for those who ordered online and want to quickly pick up items. Target employees will hand-deliver preordered goods to customers’ cars.

The company plans to update more than 1,000 of its approximately 1,800 locations between 2018 and 2020. This represents the retailer’s biggest overhaul to date — and it comes at a $7 billion cost.

Target’s efforts to modernize its stores come on the heels of concerns from brick-and-mortar businesses regarding Amazon’s dominance.

And this renovation is only part of Target’s plans. The retailer announced in July that it would replace Mossimo and Merona, two of its most recognizable brands, adding 12 exclusive labels in their place.

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Target’s Sales Beat Forecasts, But Here’s Why Investors Are Dumping the Stock

It’s beginning to look a lot like — a retail rebound?

While it will take sustained success across retail to make the above statement true, early reads for holiday shopping data are giving renewed hope to beleaguered retailers.

According to data released by retail insights firm Shoppertrak today, in-store retail traffic on the all-important Super Saturday — the final Saturday before the Christmas holiday — increased 20 percent this year when compared with last year’s. Meanwhile, traffic on Saturday, Dec. 16, and Sunday, Dec. 17, saw a 2.8 percent increase when compared with last year’s Super Saturday weekend.

Adding to the positive news, Mastercard’s SpendingPulse report this week revealed retail sales from Nov. 1 to Christmas Eve increased 4.9 percent versus last year — the highest growth rate since 2011. At the same time, online sales increased more than 18 percent.

According to Brian Fields, senior director of advisory services at Shoppertrak, the data “reinforces notions of retail success … [and] overall, it’s safe to say that retailers had a very merry Christmas.”

Similarly, Sarah Quinlan, SVP of Market Insights at Mastercard, said this year was “a big win” for retail.

“The strong U.S. economy was a contributing factor, but we also have to recognize that retailers who tried new strategies to engage holiday shoppers were the beneficiaries of this sales increase,” Quinlan said.

Ahead of the holidays, retailers — including Walmart, Target and department stores such as Macy’s and Nordstrom — had placed increased emphasis on creating cohesion between their online and in-store businesses by rolling out optimized in-store pickup options and better in-store experiences.

The wave of good news come days after the National Retail Federation said it expected retailers to top its bullish forecast for the holiday season.

“Consumer confidence has been at an all-time high over the last few months, in addition to the unemployment rate being low and wages have slightly gone up year-over-year, which is allowing consumers to splurge and spend more than they normally would,” Ana Smith, senior director of media relations at the NRF, said Wednesday.

The NRF forecasted between 3.6 percent and 4 percent sales growth for November and December, compared with the same months in 2016. But after seeing business boom in November, the trade association said it believed the expectations would be met or exceeded. And the upbeat results could keep rolling in — another of the busiest shopping days of the season still remains: Saturday, Dec. 30.

(The SpendingPulse report is based on aggregate sales activity in the Mastercard payments network along with survey-based estimates for other forms of payment, such as cash and checks. Shoppertrak analyzes shopper visit data at the national, regional and ZIP code levels for total retail, apparel and accessories, and wireless and electronics categories.)

After revamping its business strategy to focus on creating better cohesion between its brick-and-mortar and digital businesses, Target Corp. is reaping the rewards.

The retailer announced today that its comparable sales during the holiday season — the combined November/December period — grew 3.4 percent, besting the expected range of 0 to 2 percent. Comparable sales across all of the company’s core merchandise categories — Home, Apparel, Food & Beverage, Hardlines and Essentials — were also positive and accelerated from the third quarter, reflecting strong traffic growth, positive store comps and continued growth in digital sales, the company said.

Target has been among the retailers — such as Walmart and department stores Macy’s Inc. and J.C. Penney Co. Inc. — to put aggressive efforts behind redesigning its stores to better support accelerating digital demand ahead the holiday rush. (Macy’s and JCPenney last week also reported growth in their same-store sales, resulting in no small part from a more effective omnichannel strategy.)

“We’ve positioned our stores at the center of a continually expanding suite of convenient fulfillment options and made significant investments in our team, which enabled our stores to fulfill 70 percent of all digital orders in the November/December period,” said Target chairman and CEO Brian Cornell. “As we look ahead to 2018, we will build on the foundation we established this year by launching additional exclusive brands, enhancing our digital capabilities, opening approximately 30 small-format stores and tripling the size of our remodel program to more than 325 stores.”

He added, “We will also remain focused on rapidly scaling up new fulfillment options including Same Day Delivery, which will be enabled by our acquisition of Shipt and our recently launched Drive Up service.”

(Small-format stores have also become a new tactic for retailers looking to tap into digital opportunities while holding onto a physical presence. Nordstrom Inc. has launched a similar concept, Nordstrom Local.)

With its digital business booming, Target now expects 2017 will be the fourth consecutive year in which its digital sales grow more than 25 percent.

The retailer also raised its fourth-quarter and full-year guidance — reflecting the benefits of its new strategy as well as perks from federal tax reform — and released a first look at its 2018 expectations.

Target now expects Q4 comparable sales growth in a range around 3.4 percent, consistent with results in the November/December period. This would translate into full-year 2017 comparable sales growth of just over 1 percent. Total sales are expected to grow more than 9 percent in the fourth quarter. Adjusted EPS is forecasted in the range of $1.30 to $1.40, compared with the prior range of $1.05 to $1.25, reflecting expectation reflects a 6- to 8-cent benefit resulting from recently enacted federal tax reform legislation. For full-year 2017, the company expects adjusted EPS of $4.64 to $4.74, compared with prior guidance of $4.40 to $4.60.

For fiscal 2018, the company is planning for a low-single-digit increase in its comparable sales and flat EPS, excluding the benefit of federal tax reform. On an adjusted basis (including the expected benefit from federal tax reform), Target expects adjusted EPS of $5.15 to $5.45.

Target shares were popping in response to the upbeat holiday announcement and upward-adjusted forecasts. As of 11 a.m. ET, the shares were up 2.8 percent to $69.01.

UPDATE: Walmart Announces Closures of 63 Sam’s Club Stores

Hours after the company announced plans to boost its minimum wage using kickbacks from the new tax law, Walmart said it would close 63 Sam’s Club stores around the U.S.

The retailer said it would convert up to 12 of the impacted stores to e-commerce fulfillment centers “in a move that will speed delivery of online orders, with the balance of the facilities closing over the next few weeks.” Currently, Walmart and Sam’s Club operate more than 5,400 locations across the U.S.; after the closures the company will have 597 Sam’s Club outposts.

Walmart said it would provide support and resources to those associates who are affected, including the bonus announced on Thursday morning — as part of its larger announcement regarding how it planned to initially dole out cash savings from federal tax reform.

What We Reported Earlier

Citing kickbacks from the new federal tax law, America’s largest private employer is putting more resources behind its ginormous workforce.

Walmart today announced its plans to increase the starting wage rate for all hourly associates in the U.S. to $11, expand maternity and parental leave benefits and provide a one-time cash bonus of up to $1,000 to certain associates.

The firm’s initial post-tax-reform announcement differs from that of competitor Target Corp., which said Tuesday that it would deploy additional cash flow from the  tax law to “long-standing capital deployment priorities, including capital investments, dividends and additional share repurchase.”

Still, it’s worth noting that in September, Target announced plans to raise its minimum hourly wage for all team members to $11 starting the following month. The company also committed to increasing its minimum hourly wage to $15 by the end of 2020.

Walmart had faced new backlash about its employee compensation strategy since 2015. That year, it raised its minimum wage to $9 an hour but later blamed the investment for slipping profits. The company said its new wage hike will be effective for the Feb. 17 pay cycle.

The company said the change is in addition to wage increases already planned for many U.S. markets in the coming fiscal year. (The increase applies to all hourly associates in the U.S., including stores, Sam’s Clubs, e-commerce, logistics and Home Office. This is Walmart’s third wage hike since 2015.)

While this marks Walmart’s first major announcement of its plans for doling out its extra tax savings in light of the new tax law, president and CEO Doug McMillon said the company is “early in the process of assessing opportunities tax reform creates for us to invest in our customers and associates, and to further strengthen our business, all of which should benefit our shareholders.”

“However, some guiding themes are clear and consistent with how we’ve been investing — lower prices for customers, better wages and training for associates, and investments in the future of our company, including in technology,” he added. “Tax reform gives us the opportunity to be more competitive globally and to accelerate plans for the U.S.”

The firm will provide more details on its financial plans when it releases quarterly results on Feb. 20.

Walmart’s combined wage and benefit changes will benefit the company’s more than 1 million U.S. hourly associates. The company is also creating a new benefit to assist associates with adoption expenses. The benefit, available to both full-time hourly and salaried associates, will total $5,000 per child.

Target has inked a new deal with Umbro that will bring an exclusive assortment of kids’ soccer footwear, apparel and gear to its website and stores across the country next month.

Ranging in price from $4.99 to $19.99, the lineup will feature more than 90 items for both boys and girls, including slide sandals, performance cleats, socks, tank tops, jerseys, shorts, leggings, track pants and track jackets, as well as equipment such as balls, shin guards, water bottles and cinch sacks. Product will be available to shop beginning on Feb. 25.

A pair of cleats from the new collection.

“We’re always looking to connect with our guests in new and unique ways, and for families and kids, the introduction of Umbro will mean even more reasons to choose Target,” said Mark Tritton, the chain’s EVP and chief merchandising officer. “Soccer is one of the fastest-growing sports in the U.S., and it continues to grow in popularity among our guests. As the only mass retailer to sell Umbro, we’re giving more families access to the sport through stylish and affordable apparel and gear.”

The deal follows a companywide investment in the sport last year. The Minneapolis-based retailer signed on as the official partner of Major League Soccer and as the official sponsor of hometown team Minnesota United FC. It also became the official retailer of the U.S. Youth Soccer Association.

Citing growing American interest and participation in the sport, Target also revealed that sales of soccer-related items spiked by 10 percent in 2016 — faster than any other sporting goods category. The chain sold 1 million soccer balls that year. Children, in particular, are embracing the game. More than 9 million kids played in youth soccer leagues in 2016, making it one of the top youth participation sports in the country.

Target saw sales of soccer-related items increase by 10 percent in 2016.

“There are so many things that drew us to soccer — it’s multicultural, watched and played by families and is growing immensely in popularity,” SVP of marketing Rick Gomez said at the time. “We’ve partnered with several incredible organizations and vendors to invite soccer fans everywhere to engage with the Target brand in new ways.”

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