Reported about 23 hours ago
Target reported a modest sales increase in the third quarter but saw a significant drop in profits as consumers curtailed spending amid inflationary pressures. The retailer's holiday outlook also disappointed analysts, highlighting a stark contrast to competitors like Walmart and Amazon. Although sales transactions rose, Target faced multiple challenges, including increased operating costs due to a dockworker strike and a reliance on discretionary items. To attract customers, the company has cut prices on holiday goods and launched new shopping programs.
Source: YAHOO