Reported 5 months ago
Target reported a decline in quarterly revenue due to higher prices on essentials impacting shopper spending, along with profit results below analyst expectations and a muted profit outlook. The retailer posted its fourth consecutive quarter of declines in comparable sales but anticipates a return to sales growth this quarter. Shares dropped nearly 10% in premarket trading. Target is implementing strategies like price cuts on consumer basics, a new membership program, store updates, and expanding store-owned brand offerings to boost sales and compete with Walmart and Amazon.
Source: YAHOO