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Target’s heavy online investments paid off handsomely during the holiday season. The retailer said Wednesday robust online sales resulted in a 17% increase in comparable sales in the November-December period. Its digital sales more than doubled. A big chunk of that growth came from its same-day deliveries and pick-up services. Demand at its drive-up service whereby customers go to the stores to collect their orders jumped more than six-fold. Sales at its stores were strong, too. Traffic rose 4.3% as people combined their shopping trips and limited it to large retailers. Sales of goods...

L Brands shares surged 6% on Thursday as the company reported robust holiday comparable sales amid a challenging retail environment and provided a better-than-expected profit outlook for the fourth quarter.Comparable sales in the holiday period (nine weeks ended Jan. 2, 2021) rose 5% year-over-year driven by the strength in L Brands’ (LB) Bath & Body Works business even as weakness in Victoria’s Secret banner continued to persist. Overall, net sales in the holiday period declined 1.8% to $3.84 billion year-on-year.Comparable sales of Bath & Body Works, which includes so...