Target Corp. (NYSE TGT) on Thursday boosted its fourth-quarter sales outlook, following a holiday shopping season that went better than expected for the Minneapolis-based retailer. The company also noted several retirements from its executive suite.

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.

Target raised its holiday-quarter comparable sales forecast on Thursday, buoyed by robust shopper demand for clothing, toys and beauty products during November and December, but profit margin concerns sent its shares down nearly 3%.

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%,

Target reported strong holiday sales on Thursday, giving its stock a boost. The retail chain said sales increased 2% on a comparable basis in the last two months of 2024 from a year earlier, and overall sales rose 2.

Minneapolis-based Target Corporation reported its quarterly earnings Thursday, showing a slight increase in sales following a holiday boost. Total sales in November and December grew 2.8% — more than in 2023 — according to a Target press release.