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Pandemic drives sales, puts pressure on profit at Target

Target reported a more-than-20% jump in same-store sales thus far this month as consumers stocked up on groceries and household goods, but it expects profits to dip as shoppers eschew apparel and other high-margin items and labor costs rise. The retailer will put some planned projects on hold, including store remodels, new location openings and the addition of alcohol and fresh food to curbside pickup.

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