MINNEAPOLIS — Food and pet supplies accounted for 19% of Target Corp.'s 2011 sales of $68.47 billion, up from 17% of sales in 2010 and 16% in 2009, according to the company’s 10-K filing with the Securities & Exchange Commission.
The household essentials category — which includes other consumables like pharmacy, HBC, baby care, cleaning supplies and paper product — accounted for another 25% of sales last year, up one percentage point in each of the last two years.
The gains — largely attributable to the rollout of the company’s P-fresh remodels, which include more grocery offerings — come at the expense of hardlines’ share of sales, down to 19%, from 20% in 2010 and 22% in 2009, as well as apparel/accessories (19% vs. 20% in each of the preceding two years) and home furnishings (18% in 2011 vs. 19% in each of the preceding two years).
In the company’s fourth-quarter conference call last month, Target executives said the remodels are driving more frequent shopping trips, which at first focus on food items but over time expand to other areas of the store.
