Target ekes out slight growth in holiday-quarter sales, but warns of continued slowdown
Publishing timestamp: 2023-02-28 08:26:23
Summary
Target reported better-than-expected earnings for the first time in a year, with sales rising 1% from the same period the year prior. CEO Brian Cornell cited a "very challenging environment" with groceries, beauty items, and household essentials lifting sales as consumers focused on necessities. The company gave a conservative full-year outlook, expecting a low single-digit decline to low single-digit increase in comparable sales and earnings per share of between $7.75 and $8.75. Target's stock has fallen 40% from its all-time high, but is up 12% so far this year.
Sentiment: POSITIVE
Keywords: breaking news: earnings, retail industry, business news, breaking news: business, home depot inc, earnings, target corp, walmart inc, business,
Source: https://www.cnbc.com/2023/02/28/target-tgt-earnings-q4-2022.html