Reported 5 months ago
Target reported disappointing quarterly earnings and a weak forecast, causing shares to drop by 7.7%. The company's performance was worse than the market average, indicating a loss of market share, with a 1.8% share of U.S. retail sales in 2023. Target's comparable sales fell for the fourth consecutive quarter, and the forecast for the current quarter is below analysts' expectations. The company plans to lower prices on grocery items and introduce a membership plan to boost sales, aiming to regain growth in the near term.
Source: YAHOO