Target Corp. has unveiled its Bullseye’s Top Toys of 2020, which includes big names like Barbie, Nerf and Lego.
With retailers getting an earlier jump on the holiday shopping season than usual, Target’s
list follows others from Walmart Corp.
and additional competitors.
The Barbie Dream House makes an appearance on Target’s list, with the Mattel Inc.
toy icon expected to be a bestseller this year.
Nerf is also on the list with a toy based on the popular online game Fortnite. Nerf is a Hasbro Inc.
And Target has partnered with Lego for a number of exclusive
play sets, including Lego Star Wars Resistance I-TS Transport, Lego Friends
Alpaca Mountain Jungle Rescue and Lego Harry Potter Attack on the Burrow.
Target also has an exclusive partnership with FAO Schwarz that will launch later this month and include a collection of 70 toys, such as a Giant Piano Dance Mat. Items will be available in Target stores, online and at the FAO Schwarz location in New York City. Many of the items will be priced below $20.
The New York City FAO Schwarz store will also carry 300 items
from Target’s private labels, including Cat & Jack and Pillowfort.
Target also announced an expanded partnership with Levi Strauss & Co.
this week, with the retailer adding Levi’s Red Tab items to 500 store locations by next fall, up from 140 stores.
Levi Strauss stock soared after the denim company announced a surprise profit after hours on Tuesday. Shares continued upward, rising 5.6% on Wednesday.
“On the expansion front, the success of our partnership with Target is one of the important opportunities before us,” said Chip Bergh, Levi’s chief executive, on the earnings call, according to FactSet.
“Particularly encouraging is that in the doors open to date,
we’re seeing new consumers discovering our brand without cannibalizing our
business with other wholesale accounts.”
Raymond James analysts also applaud the expanded partnership.
“We believe it is increasingly apparent that Target has
become one of the most attractive retail distribution points for good and better
product of national brands,” Raymond James’ Matthew McClintock wrote.
Raymond James rates Target stock strong buy.
Target shares have rallied 25.3% for the year to date through Wednesday, while the S&P 500 index
has gained 5.8% for the period.