Reported about 2 months ago
Target reported a substantial earnings surprise, beating Wall Street forecasts by $0.39 per share, largely credited to aggressive price cuts on 5,000 essential products, leading to increased store traffic. CEO Brian Cornell noted that these reductions helped regain market share from competitors like Walmart. Despite cautious sales guidance for the upcoming holiday season, Target raised its full-year profit forecast, reflecting a positive consumer response.
Source: YAHOO