Discounts and sales events have remained a significant sales driver, as consumers emerge from a more than two-year stretch of high inflation. It’s unclear how much those deals will cut into Target’s and other retailers’ profit margins, and whether sales will keep improving if promotions fade away.

Minnesota-based Target Corporation has announced its holiday sales numbers and a number of leadership changes.

Target leaned in heavily toward promotions and sales during the holidays, a strategy that seems to have left it in the middle of the pack of retailers for the season. The Minneapolis-based retailer said Thursday its comparable sales rose about 2%,

Key Takeaways Core retail sales rose 4% YOY to a record $994.1 billion, surpassing the National Retail Federation's forecast. A strong holiday season surge saw Target lift its sales forecast to 1.5% growth from the previous year.

Target reported stronger-than-expected holiday sales, driven by record-breaking Black Friday and Cyber Monday performances, prompting an increase in its sales growth forecast for the holiday quarter to 1.

Shares of Target ($TGT) were in the spotlight as the retailer posted better-than-expected sales numbers for the holiday shopping season, lifting retail sentiment. The company said its total sales during the two holiday months grew 2.