Reported 5 months ago
Target's shares are declining after the company's Q1 report showed a 3.7% drop in comparable sales and missed revenue expectations, contrasting with Walmart's increase in comparable sales. Target's CEO cited inflation impacting consumer spending. Analysts note Target's struggles compared to Walmart's success, with concerns about market share loss and price competitiveness. Target plans to cut prices on 5,000 items, but questions arise about its impact on margins and ability to attract shoppers back from Walmart.
Source: YAHOO