Target Tops, Walmart Improving In Cowen & Co. Customer Satisfaction Survey

Customer satisfaction is growing at Wal-Mart Stores Inc. but Target Corp. gets higher marks in total shopping, merchandise selection, and customer service, according to the Cowen Consumer Tracking Survey. The bank said Wal-Mart's improved marks in 2015 are likely due to a bump in the minimum wage and more store managers and training. Wal-Mart has also experienced growth in traffic and sales from its online business. Cowen said it continues to prefer Target for growth drivers, including growing e-commerce sales, an upcoming revamp of the food offering (which accounts for 20% of the business) and exposure to a healthier U.S. consumer with less reliance on tourism spending. Cowen surveyed about 2,500 people. Target shares are up 0.4% for the year so far. Wal-Mart shares are down 31.9% for the same period. The S&P is up 1% in 2015.