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Let’s retire the scary term “Retail Apocalypse,” shall we?

It’s oft repeated in the media and on Wall Street, inducing herd-like fright among investors interested in the retail sector because, let’s face it, bad news sells and the news has been bad. Indeed, Amazon (AMZN) remains a threat to the bricks and mortar channel. That challenge, however, is hardly new and after a decade of headlines about it, I believe this worry now applies mainly to companies that don’t have a strong online strategy.

Target (TGT) does, which should serve it well in the ongoing battle with Amazon. Pay attention to Target because its management seems to get it. What’s Target’s secret? One of the nation’s biggest general retailers, with 1,800 stores, the company has embraced the power of the internet, investing in programs like same-day fulfillment, as well as more traditional tools such as offering exclusive brands shoppers can’t get elsewhere.

While Target’s e-commerce business remains significantly smaller than Walmart’s or Amazon’s, the Minneapolis-based retailer’s growing prowess is clear in recent results. For example, in the fiscal 2020 first quarter ended May 4, online sales grew 42%, up from 28% in the year ago quarter. That compare to 9% at Amazon; 37% at Wal...

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